Princeton Digital secures RM5.1bil funding for Johor expansion

KUALA LUMPUR: Princeton Digital Group has secured US$1.3 billion (RM5.1 billion) in green financing to support the continued development and expansion of its JH1 data centre campus in Johor.

The financing, underwritten by Affin Bank, HSBC, Maybank, OCBC, Standard Chartered and UOB, builds on funding secured for earlier phases of the campus in April 2024 and an upsized facility in October 2025.

The proceeds will be used to expand JH1, a 200-megawatt campus in Sedenak Tech Park designed to support high-density artificial intelligence (AI) and cloud workloads.

The facility is structured under Princeton Digital's Green Finance Framework and supports the development of JH1 in line with recognised green building standards.

The campus obtained Green Building Index Gold certification for design and LEED Gold certification for operations.

The transaction also advances Princeton Digital's plan, announced in March, to raise up to US$5 billion in debt financing to deliver contracted data centre capacity across Asia Pacific.

"This financing reflects the confidence of our banking partners, several of whom have supported JH1 since its earliest phases, in the group's execution capabilities and deep hyperscaler partnerships," said Rangu Salgame, Princeton Digital chairman, chief executive officer and co-founder.

The company entered Johor in 2023 and has continued to focus on local talent development and community engagement through partnerships with local organisations.

Backed by global institutional investors including Warburg Pincus, Ontario Teachers' Pension Plan, Mubadala and Stonepeak, Princeton Digital has a portfolio exceeding 1.8 gigawatts across eight Asia Pacific countries.