AirTrunk has closed a green loan in Japan as part of its new Green Financing Framework.
The green loan, the first for a data centre in Japan, will finance AirTrunk’s new 110 MW West Tokyo data centre.
AirTrunk’s Green Financing Framework works alongside the company’s Sustainability Linked Loan (SLL), which was announced in late 2021. The A$2.1b loan has subsequently increased in size to support AirTrunk’s APJ expansion.
Under the framework, AirTrunk’s green projects must meet certain sustainable eligibility criteria in order to be financed through green loans. The company has defined three categories as ‘green loan’ eligible – green data centre, renewable energy and water efficiency.
The joint Sustainability Structuring Agents for the framework and green loan were Credit Agricole CIB, who also advised on the SLL, and MUFG Bank. Sustainalytics provided independent verification via Second Party Opinion of the Framework.
AirTrunk Chief Financial Officer, Prashant Murthy, said: “We continue to drive sustainable innovation throughout the design, build, operations and financing of our data centres. The green loan closed today has set several industry benchmarks including being the first for a data centre in Japan, and first to use eligibility criteria based on operating PUE and water productivity.”
He continued: “AirTrunk’s financing platform, including the new Green Financing Framework and SLL, takes AirTrunk to a clear leadership position in sustainable data centre financing. Linking our debt facilities to sustainability performance, holds our business to account on our commitments.
“The categories we selected as eligibility criteria for the framework are key priorities for AirTrunk and its customers to ensure we continue to deliver the most sustainable digital infrastructure in the region.”