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Princeton Digital secures RM1.28b green loan for AI-ready campus in Sedenak tech park

KUALA LUMPUR: Princeton Digital Group (PDG) has secured its first RM1.28 billion (US$280 million) green loan for its 150 megawatt (MW) artificial intelligence (AI)-ready 26 JH1 campus in Sedenak Tech Park (STeP) in Johor.

JH1 is one of largest AI-ready campuses in Asia and is designed to cater to the infrastructure demands of some of the world's most pre-eminent AI and cloud companies.

The 150MW hyperscale project is a planned US$1.5 billion investment for PDG. The US$280 million financing is for the first 52MW phase of JH1 which is on track to be ready for service in June 2024, completing within just 12 months from the commencement of construction.

PDG chief executive officer and co-founder Rangu Salgame said the company 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," Rangu said.

"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 center operator," he added in the statement.

According to PDG, the loan is being provided by three banks, namely Maybank, Standard Chartered Bank and UOB Malaysia who acted as Joint Green Loan Coordinators. PDG is a developer and operator of Internet infrastructure, headquartered in Singapore with presence and operations in Singapore, China, India, Indonesia, Malaysia, and Japan.

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