Equinix has issued SGD $500 million (US$375m) in green bonds to help fund efficiency improvements at its data centers in Singapore.

It says it is the first US company to access the Singapore dollar market in more than five years, and will utilize the proceeds from the bond issue to “advance its longstanding commitment to sustainability, and to further the operational efficiency of its portfolio.”

The notes will be due in 2030. The closing of the offering, on March 13, means Equinix has now issued a total of US$7.3 billion in green bonds globally.

“As AI adoption accelerates, advancing energy efficiency and integrating the latest sustainability innovations at our data centers becomes increasingly critical. The issuance of our inaugural green bonds in Singapore underscores our commitment to designing and building energy-efficient infrastructure, and reducing our carbon footprint,” said Yee May Leong, managing director for Singapore, Equinix.

“Equinix has always been a strong proponent of Singapore’s National AI Strategy and Green Plan 2030, and this milestone reinforces our dedication to advancing the nation’s AI vision responsibly and sustainably through our vibrant AI marketplace.”

Projects funded by the bonds include green building development and renewable energy innovations, as well as advanced energy efficiency, resource conservation, and cutting-edge decarbonization solutions, Equinix said.

Equinix has five of its International Business Exchange (IBX) data centers in Singapore, and broke ground on broke on a sixth, a 20MW facility, in November 2024. The city-state has been under a data center moratorium since 2019, but rules are now relaxing and Equinix was one of four companies given access to power in 2023, enabling its latest development.

The company last issued green bonds in December 2024, when it raised €1.15 billion ($1.2bn) for its European activities.