Princeton Digital Group secures major green loan for AI-ready campus

Princeton Digital Group (PDG), a data centre provider, has secured a USD $280 million green loan for the first phase of its AI-ready data centre campus, JH1. Located in Sedenak Tech Park (STeP) in Johor, Malaysia, JH1 is set to be one of the largest AI-ready campuses in Asia.

The USD280 million financing will be used to construct the first 52MW phase of the JH1 project. Completion is targeted for June 2024, a remarkably swift 12 months from the start of construction.

With a capacity of 150MW, JH1 is being developed to meet the infrastructure needs of some of the world's leading AI and cloud companies. This project is the result of PDG's planned USD1.5 billion investment.

Three major banks - Maybank, Standard Chartered Bank and UOB Malaysia - are providing substantial green loans, supporting PDG's commitment to sustainable practices. Their contributions manifest PDG's first green loan aligned with the company’s green finance framework. This represents crucial progress in reducing resource consumption and emissions from the region's AI infrastructure. Furthermore, this bolsters resilience to climate change and is expected to have a positive societal impact.

Rangu Salgame, Chairman, CEO and Co-Founder of PDG, commented on the important development, saying, "PDG has been at the forefront of developing Asia’s data centre infrastructure to enable the massive growth of AI and cloud in the region. Our data centre campuses are AI-ready and combine quality and resilience of infrastructure with a primary focus on sustainability."

He further added, "JH1, and this financing by top banks, are evidence of how PDG is solving for sustainability while building at scale for AI. With our unmatched track record of execution, this further cements our position as a leading pan-Asian data centre operator."

PDG is headquartered in Singapore and operates in Singapore, China, India, Indonesia, Malaysia, and Japan. Its growing portfolio of data centres aids the expansion of hyperscalers and enterprises in the rapidly evolving digital economies across Asia.