PDG Secures Green Loan for Singapore Data Centre Project

PDG’s portfolio of data centres aims to power the expansion of hyperscalers (PDG)
Princeton Digital Group (PDG) secures a US$95m green loan for its SG1 data centre located in central Singapore, continuing expansions in the region

Leading Asia data centre provider PDG has successfully gained a million-dollar green loan for its data centre in Singapore.

This is the second green loan PDG has secured in 2024, as the company commits to expanding its services across the region. The SG1 data centre is at the centre of the company’s data centre strategy which encompasses more than 500 MW across Singapore, Johor and Batam. It is designed to help customers scale and leverage the unique characteristics of the Singaporean data centre hub.

As a hub within Southeast Asia, Singapore is one of the largest data centre markets across the region and is one of the top colocation markets in the world. 

Advancing data centre expansions across Asia

As a leading developer and operator of internet infrastructure, PDG’s portfolio of data centres aims to power the expansion of hyperscalers and enterprises in the fastest-growing digital economies across Asia.

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With an existing operational presence across Singapore, the People’s Republic of China, India, Indonesia, Malaysia and Japan, the company is committed to advancing a sustainable data infrastructure revolution.

The loan that PDG has been awarded aligns with the company’s green financing framework and international Green Loan Principles, where proceeds raised under the financing are utilised toward data centres. 

The loan is provided by two leading global banks, Sumitomo Mitsui Banking Corporation (SMBC) and Societe Generale, with SMBC acting as sole Green Loan Coordinator, Agent and Security Agent and Account Bank. The US$95m loan will also refinance SG1’s existing loan and will be used for upgrading and expanding the data centre facility, in addition to supporting PDG’s continuing expansion in the region.

“In securing our second successful green financing, we continue to demonstrate how we have incorporated sustainability into the heart of our growth strategy,” says Rangu Salgame, Chairman, CEO and Co-Founder of PDG. “This significant milestone reaffirms PDG’s commitment to building and operating data centre campuses that are AI-ready and combine cutting edge technology and resilience with a primary focus on sustainability.”

Sustainability strategies will be crucial moving forward

WIth the Asia-Pacific (APAC) region having seen much growth across the data centre industry, operators will need to ensure that this growth is met with plans to mitigate climate impact.

Rapid improvements in energy efficiency have helped moderate growth in energy demand from data centres and data transmission networks. Although still well-known for their ability to guzzle power and significant amounts of energy, new hyperscalers - the largest data centres - are now undergoing a shift towards more sustainable strategies.

PDG’s first green loan was secured for its JH1 facility in Johor, Malaysia, which is one of the largest artificial intelligence-ready (AI-ready) sites in Asia. The data centre is designed to support the infrastructure demands of AI and cloud companies, representing a major milestone in reducing resource consumption to combat climate change.

More broadly, the APAC data centre market is booming, with companies around the world keen to invest in the region. In fact, it is estimated that the data centre colocation market in APAC alone will grow from US$15.5m in 2021 to US$47.9m by 2028, in part due to substantial growth in e-commerce, IT and telecom industries.

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