PDG Secures US$160m Green Loan for Mumbai Data Centre
Princeton Digital Group (PDG) has secured approximately US$160m in green financing to support the continued development of its MU1 data centre campus in Navi Mumbai.
The funding, provided by Axis Bank, Kotak Mahindra Bank and Canara Bank, contributes to PDG’s wider US$1.2bn financing strategy across Asia and brings its total green loan commitments to US$728m.
The capital will support the expansion of the MU1 campus to 150MW and reinforce PDG’s efforts to scale environmentally certified infrastructure that meets the growing demands of AI and cloud platforms in India. MU1 is the first data centre in Mumbai to receive Indian Green Building Council (IGBC) Platinum certification.
“Green financing is a key enabler of our mission to develop AI-ready digital infrastructure with sustainability at the core,” says Rangu Salgame, Chairman, CEO and Co-founder of PDG. “With MU1, we are not only setting new standards for environmentally responsible data centres in India but also helping shape Mumbai’s emergence as a global hub for AI and cloud infrastructure.”
MU1 scales to meet hyperscale and AI demand
The MU1 campus is located in Airoli, Navi Mumbai, on a 50-acre site within an IT/ITES park. It is directly connected to the Kalwa substation and designed to support high-density deployments required by hyperscale cloud and AI workloads.
The site currently consists of two operational buildings with 50MW capacity, with the first phase of the 100MW expansion now under construction.
Once fully built out, the campus will reach 150MW and offer customers access to renewable-powered infrastructure, hybrid cooling systems and diverse carrier connectivity.
PDG’s focus on sustainability includes both energy sourcing and building efficiency. MU1 has been certified at the Platinum level by the IGBC and is part of the company’s broader effort to align data centre construction with international environmental benchmarks.
With its hyperscale-grade infrastructure, the facility will cater to global cloud service providers and enterprises seeking to deploy AI models and workloads in one of India’s fastest-growing digital markets.
Indian growth driven by green investment
The Navi Mumbai development forms part of a wider US$1bn investment programme by PDG in India. In late 2024, the company announced plans to develop a 72MW data centre in Chennai, further strengthening its presence across the country’s key digital hubs.
India’s data centre market is experiencing rapid growth, driven by demand from cloud services, generative AI and increased digital transformation across sectors. Mumbai remains the primary interconnect hub, making it a focal point for both domestic and international operators.
With its green financing model, PDG is aiming to deliver large-scale, compliant infrastructure while meeting sustainability targets. The MU1 site demonstrates how energy-efficient design and scalable power provisioning can be integrated into AI-era data centre planning.
Regional banks support sustainable infrastructure shift
The green loan was facilitated by some of India’s leading financial institutions, marking a shift towards broader bank involvement in digital infrastructure development.
The inclusion of Axis Bank, Kotak Mahindra Bank and Canara Bank reflects growing interest in funding sustainable data centre expansion across India.
PDG’s ability to raise US$728m in green loans positions it as one of Asia’s most active developers of environmentally focused digital infrastructure.
Across its operations in the region, it is aligning its build strategy with both local policy goals and the rising sustainability requirements of cloud and enterprise clients.
As India continues to attract AI and hyperscale investment, infrastructure projects like MU1 will serve as benchmarks for energy-aware design and operational efficiency.