AirTrunk said on Tuesday it had secured a 191.6 billion yen ($1.24 billion) green loan to refinance and expand its flagship TOK1 data centre campus in east Tokyo, in what the company described as the largest financing completed for a data centre in Japan.
The loan will refinance existing facilities and fund the next phases of development at TOK1, a hyperscale campus that AirTrunk said can be scaled to more than 300 megawatts.
The company recently began construction to add more than 100MW of IT load at the site to meet near-term demand from cloud and artificial intelligence customers.
The deal highlights how lenders are increasing exposure to digital infrastructure as Japan pushes ahead with AI adoption, cloud expansion and domestic compute capacity.
AirTrunk said the financing was structured under its Green Financing Framework and tied to energy-efficiency standards aimed at reducing the amount of electricity needed to deliver computing power.
The financing was led by Sumitomo Mitsui Banking Corp, Mitsubishi UFJ Financial Group, Crédit Agricole CIB and Société Générale as global coordinators.
A total of 12 banks joined the transaction as mandated lead arrangers and bookrunners, including BNP Paribas, Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, OCBC and UOB.
AirTrunk, which operates hyperscale data centres across Asia Pacific and the Middle East, has been ramping up investment in Japan as technology companies seek larger facilities to support AI training, cloud services and data localisation requirements.
The company said its total committed investment in Japan has now exceeded $8 billion, covering existing and planned projects.
At full build-out, AirTrunk’s four campuses in Japan — TOK1, TOK2, OSK1 and OSK2 — are expected to provide around 530MW of total capacity, making it one of the country’s biggest hyperscale data centre platforms.
The company said the Tokyo financing would also support Japan’s broader green transition goals, as the government seeks to mobilise 150 trillion yen in public and private investment for decarbonisation and next-generation infrastructure.
It added that Japan’s 2025 Basic Plan for Artificial Intelligence identifies hyperscale data centres as essential for national compute capacity, secure data localisation and the safe deployment of AI.
AirTrunk said margin incentives tied to the loan would be directed to its Social Impact Fund for initiatives in Japan, including STEM education, digital inclusion, biodiversity, sustainable innovation and disaster relief.
The financing adds to a wave of investment into data centres across Asia, where surging AI workloads are driving demand for power, land and long-term capital, while also raising scrutiny over energy use and sustainability.
For AirTrunk, the Tokyo campus is central to its effort to deepen its footprint in Japan, one of the region’s fastest-growing markets for cloud and AI infrastructure.
Business News Asia
