AirTrunk secures S$2.25bn green loan for Singapore DC
Author: Joe Peck
Hyperscale data centre specialist AirTrunk has secured a S$2.25 billion (£1.3 billion) green loan in Singapore to finance its new hyperscale data centre, SGP2. The deal is Singapore’s largest-ever loan (and green loan) for a data centre project.
The transaction supports the development of sustainable digital infrastructure and reinforces Singapore’s position as a major green finance hub in Asia. The loan aligns with the Technical Screening Criteria of the Singapore-Asia Taxonomy for Sustainable Finance, as well as AirTrunk’s Green Financing Framework.
Largest green loan for a data centre in Singapore
Crédit Agricole CIB, DBS Bank, and ING Bank acted as global coordinators and sustainability structuring agents for the financing, working alongside a consortium of 23 other financial institutions.
MUFG Bank, Natixis CIB, Standard Chartered Bank (Singapore), and United Overseas Bank were among the mandated lead arrangers.
The financing begins as a green loan, with the option to transition into a sustainability-linked loan (SLL). All financial incentives will be directed to AirTrunk’s social impact fund.
Robin Khuda, Founder and Chief Executive Officer at AirTrunk, comments, “This landmark transaction – Singapore’s largest loan and green loan for a data centre – strengthens AirTrunk’s leadership in sustainable finance and reflects strong market confidence in AirTrunk’s growth and sustainability strategy.
“This financing structure highlights the strength, depth, and international scale of Singapore’s financial ecosystem.”
AirTrunk’s SGP2 campus, located in Loyang, will provide more than 70MW of cloud and artificial intelligence compute capacity for Singapore and Southeast Asia.
The facility is designed to achieve a BCA Green Mark Platinum rating and a Power Usage Effectiveness (PUE) of 1.20, one of the lowest in Singapore. Green concrete and green steel are also being used in construction to cut embodied carbon.
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