• AirTrunk secured $2.325 billion in green financing for its JHB2 hyperscale data centre campus in Johor Bahru.
• The deal is Malaysia’s largest green project financing for a single data centre and AirTrunk’s largest single-asset financing to date.
• Thirty financial institutions backed the transaction, linking financing terms to energy, water and net-zero performance.

AirTrunk has secured $2.325 billion in green financing to fund the sustainable development of its JHB2 hyperscale data centre campus in Johor Bahru.

The $2.325 billion transaction was structured under AirTrunk’s Green Financing Framework. It will support new digital infrastructure serving Malaysia’s expanding cloud and artificial intelligence economy.

The financing is the largest green project finance transaction for a single data centre in Malaysia. It is also AirTrunk’s largest financing tied to a single asset.

For investors, the scale of the deal highlights growing demand for capital that can finance data centre expansion while addressing the sector’s rising energy and water footprint.

Financing targets energy and water efficiency

AirTrunk plans to use the funding to develop JHB2 with a strong focus on resource efficiency.

The campus is targeting a design Power Usage Effectiveness, or PUE, of 1.37. It will also use advanced cooling technology designed to reduce water consumption.

Those measures are increasingly important as governments and investors scrutinise the environmental costs of digital infrastructure. AI workloads in particular are driving higher electricity demand, while cooling requirements can place additional pressure on local water systems.

Pei Jet (PJ) Lim, AirTrunk Vice President & Country Head, Malaysia, said: “This green financing demonstrates how digital infrastructure can be developed responsibly. As one of the largest issuers of sustainable finance in the global data centre industry, we will continue to invest in infrastructure that prioritises energy and water efficiency while ensuring the benefits extend beyond our campuses through meaningful contribution to support local communities.”

The financing also links environmental performance with community investment.

Margin savings generated through the transaction will support AirTrunk’s social impact programmes in Malaysia. These include recycled water initiatives in schools through Gravity Water and Water Watch Penang.

Funding will also support disaster relief through MERCY Malaysia and STEM education initiatives with Universiti Teknologi Malaysia.

Thirty institutions back green loan

A consortium of 30 Malaysian and international financial institutions backed the transaction. AirTrunk said it is one of the largest lending groups assembled for a data centre financing in Malaysia.

The transaction also brings the International Finance Corporation into AirTrunk’s financing structure for the first time. IFC is a member of the World Bank Group.

Ten institutions acted as Global Coordinators. They were BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank, ING Bank, Mizuho Bank, MUFG Bank, Société Générale, Sumitomo Mitsui Banking Corporation, HSBC and United Overseas Bank.

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CIMB Bank, Clifford Capital Credit Solutions, IFC, National Bank of Kuwait and Standard Chartered Bank Singapore served as Mandated Lead Arrangers, Underwriters and Bookrunners.

Crédit Agricole Corporate and Investment Bank, DBS Bank, ING Bank and HSBC acted as Green Loan Coordinators.

Edmund Tan, AirTrunk Senior Director, Treasury Loans, said: “This transaction reflects the strength of AirTrunk’s sustainability credentials and the confidence leading global financial institutions have in our long-term strategy. Structured around transparent environmental KPIs, the financing supports our pathway to net zero by 2030 while reinforcing our commitment to building efficient digital infrastructure that creates long-term value for our customers, communities and investors.”

IFC links digital investment with blue finance

IFC’s participation adds a development finance component to the transaction.

The institution is increasingly focused on infrastructure capable of supporting economic growth while meeting environmental performance requirements. In this case, water efficiency is also central to the financing structure.

IFC’s Regional Industry Director for Infrastructure and Natural Resources, Asia Pacific, Vikram Kumar, said: “Digital infrastructure is becoming increasingly important to economic development and competitiveness, and it must be built sustainably. We’re pleased to partner with AirTrunk on this landmark financing, which demonstrates how development capital can support energy efficient infrastructure that strengthens Malaysia’s digital economy while delivering measurable environmental outcomes. This Green Loan also delivers blue impact through the implementation of water efficiency technology defined as per IFC Blue Finance Guidelines Version 2.0.”

Sustainable finance follows AI infrastructure growth

AirTrunk’s financing comes as Asia-Pacific governments compete for data centre investment tied to cloud computing and AI.

That growth is creating new opportunities for banks and institutional capital. It is also increasing pressure on developers to manage power demand, water use and carbon emissions from new facilities.

AirTrunk’s wider sustainability strategy combines energy-efficient infrastructure, renewable energy procurement, water stewardship and community programmes. The company is pursuing a net-zero target for 2030.

For lenders and infrastructure investors, the JHB2 financing shows how sustainability-linked requirements are moving deeper into digital infrastructure funding.

The implications extend beyond Malaysia. As AI and cloud investment accelerates across Asia-Pacific and the Middle East, access to capital may increasingly depend on developers proving that new capacity can meet measurable energy, water and climate performance standards.