Blackstone-backed hyperscale data centre specialist AirTrunk has secured a landmark S$2.25 billion ($1.7 billion) green loan in Singapore to fund its new AirTrunk SGP2 data centre, while Abu Dhabi-based renewables firm Masdar plans to sell stake in Emerge Energy.
AirTrunk raises $1.7b for new data centre
Asia Pacific & Japan (APJ) hyperscale data centre specialist AirTrunk has secured a landmark S$2.25 billion ($1.7 billion) green loan in Singapore to fund its new AirTrunk SGP2 data centre.
This marks Singapore’s largest-ever green loan for a data centre, reinforcing the city-state’s rise as a global green finance hub, a vision backed by the Monetary Authority of Singapore (MAS).
The loan, aligned with the Singapore-Asia Taxonomy for Sustainable Finance and AirTrunk’s Green Financing Framework, includes an option to transition into a sustainability-linked loan (SLL), with proceeds directed to the company’s social impact fund.
Crédit Agricole CIB, DBS Bank, and ING Bank acted as Global Coordinators and Sustainability Structuring Agents, supported by 23 local and international financial institutions, including MUFG Bank, Natixis CIB, Standard Chartered Bank, and United Overseas Bank as Mandated Lead Arrangers.
AirTrunk CEO Robin Khuda hailed the deal as a milestone, reflecting market confidence in the firm’s sustainable growth strategy.
“This financing underscores Singapore’s robust financial ecosystem and our commitment to social impact,” he said.
Jasmine Zhang of Crédit Agricole CIB and Amit Sinha of DBS Bank echoed the sentiment, noting the loan’s role in setting a benchmark for responsible infrastructure. Krishna Suryanarayanan of ING Bank praised AirTrunk’s sustainability leadership.
Located in Loyang, the SGP2 data centre will offer 70+ megawatts of cloud and AI capacity, targeting a BCA GreenMark Platinum rating and a PUE of 1.20 using green concrete and steel to minimise carbon emissions.
Abu Dhabi renewables firm Masdar to sell stake in Emerge Energy
Masdar, an Abu Dhabi-based renewables firm, is in the market to sell its 50% stake in rooftop solar company Emerge Energy, shifting its focus toward larger-scale renewable energy projects, according to a Bloomberg report on Monday.
The move aligns with the company’s ambition to optimise resources for its 2030 target of securing stakes in 100 gigawatts of renewable capacity.
Chief Executive Officer Mohamed Jameel Al Ramahi revealed in an interview with Bloomberg that Masdar is actively seeking a buyer, with several companies currently engaged in discussions with the firm’s advisers and deal team.
Electricité de France SA (EDF) holds the remaining 50% stake in Emerge, which boasts over 250 megawatts of solar installations or projects under construction across petrol stations, theme parks, factories, and other sites in the UAE and Saudi Arabia.
This strategic shift highlights Masdar’s intent to prioritise scale as it races to meet its ambitious 2030 renewable energy goals, potentially reshaping its portfolio in the competitive Middle East renewables market.
