Asia Pacific data center provider Princeton Digital Group (PDG) has secured a $95 million green loan for its SG1 data center in Singapore.
The loan has been provided by banks Sumitomo Mitsui Banking Corporation and Societe Generale, with the former acting as the green loan coordinator, agent, and security agent.
The new loan will refinance the company’s existing loan, upgrade SG1, and support continued expansion in the region. SG1 currently has a gross floor area of 16,000 sqm (174,000 sq ft).
The loan is part of PDG’s SG+ strategy which will deliver more than 500MW across Singapore, Johor, and Batam, said the company.
This is the company’s second green loan this year. PDG secured a $280 million loan for its JH1 campus in Sedenak Tech Park in Johor, Malaysia, last month.
“In securing our second successful green financing, we continue to demonstrate how we have incorporated sustainability into the heart of our growth strategy. This significant milestone reaffirms PDG’s commitment to building and operating data center campuses that are AI-ready and combine cutting-edge technology and resilience with a primary focus on sustainability,” said Rangu Salgame, chairman, CEO, and co-founder of PDG.
The company said the loan aligns with PDG’s green financing framework.
PDG was set up with the help of Warburg Pincus in 2017 and operates data centers in China, Singapore, India, Indonesia, Malaysia, and Japan.
In 2019, the operator bought the SG1 data center from US-based IO data centers.
