AirTrunk, the Asia-Pacific data centre operator backed by Blackstone, has secured a S$2.3bn ($1.8bn) loan to develop its second cloud computing facility in Singapore, according to a report by Forbes.

The new Loyang-based site, SGP2, will add more than 70MW of AI-powered capacity and is being financed by a consortium of over 20 banks, including Crédit Agricole CIB, DBS Bank, and ING.

“This landmark transaction is Singapore’s largest loan and green loan for a data centre,” said Robin Khuda, founder and CEO of AirTrunk. “It strengthens AirTrunk’s leadership in sustainable finance and reflects strong market confidence in AirTrunk’s growth and sustainability strategy.”

The facility will use green concrete and steel to lower its environmental impact and is expected to achieve among the lowest power usage rates in Singapore’s data centre sector. The country lifted a three-year moratorium on new projects in 2022 but has approved new builds selectively to ensure sustainability standards are met.

Founded in 2015, Australia-based AirTrunk has expanded across the region, with operations in Hong Kong, Japan, Malaysia, and Singapore. Its first Singapore facility, SGP1, opened in 2020 and remains the country’s largest with a capacity of over 78MW.

Blackstone and Canada Pension Plan Investment Board acquired AirTrunk last year in a deal valuing the business at A$24bn ($15.6bn), including debt and development commitments.

The project comes as Singapore attracts record global tech investment, with Amazon committing $9bn and Google $5bn to cloud infrastructure expansion in the past year.

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