Largest-ever green loan for a data centre in Singapore
Backed by a consortium of 26 local and international financial institutions
Loan incentives directed to AirTrunk’s social impact fund for community programs
Asia Pacific & Japan hyperscale data centre specialist AirTrunk has secured a record S$2.25 (US $1.65) billion green loan in Singapore to fund the development of its new Loyang-based facility, AirTrunk SGP2.
The financing marks Singapore’s largest-ever loan — and largest green loan — for a data centre. It underscores Singapore’s ambition to solidify its position as a global green finance hub, a vision championed by the Monetary Authority of Singapore (MAS).
The deal, structured in line with the Singapore-Asia Taxonomy for Sustainable Finance and AirTrunk’s Green Financing Framework, begins as a green loan with the flexibility to transition into a sustainability-linked loan. All margin incentives will flow into AirTrunk’s social impact fund to support local community programs.
Crédit Agricole CIB, DBS Bank, and ING Bank acted as Global Coordinators and Sustainability Structuring Agents, leading the financing alongside 23 other institutions. Mandated Lead Arrangers and Bookrunners included MUFG Bank, Natixis CIB, Standard Chartered Bank, and United Overseas Bank.
“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,” said Robin Khuda, AirTrunk’s founder and CEO. “We’re proud to contribute to the nation’s momentum as a world-leading green finance hub while scaling our platform responsibly to deliver lasting social impact for the Singapore community.”
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Jasmine Zhang, Crédit Agricole CIB’s Head of Telecom Finance for Asia-Pacific, said: “AirTrunk’s SGP2 facility sets a new benchmark for responsible infrastructure development in Asia. Its innovative green loan structure with option to convert into a sustainability linked loan reflects a holistic approach to long-term impact.”
DBS Bank’s Amit Sinha added: “The data centre sector is fast emerging as a key growth industry for Asia. This landmark green loan represents the largest financing for a new data centre facility in Singapore to date, underscoring the scale and significance of the project.”
ING Bank’s Krishna Suryanarayanan called the financing “another significant milestone in AirTrunk’s sustainable finance journey, strengthening its reputation as a sustainability leader among data centre operators globally.”
The new SGP2 data centre will deliver over 70MW of capacity for cloud and artificial intelligence workloads across Southeast Asia. Designed to meet BCA GreenMark Platinum standards, it targets a market-leading Power Usage Effectiveness (PUE) of 1.20 and incorporates green concrete and steel to reduce embodied carbon.
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