PDG raises $856M in debt to build hyperscale data centres in Indonesia
What's the deal? Princeton Digital Group (PDG), a Singapore-headquartered data centre operator, has secured roughly $856M in financing to build out its 120MW JC3 campus in Jakarta, Indonesia. The deal includes a fully underwritten $456M syndicated facility backed by five international banks — DBS, HSBC, Maybank, SMBC, and Standard Chartered — plus an accordion facility of about $400M still in progress.
The financing is structured under PDG's Green Finance Framework, making it one of the largest green loans in the region.
Why now? Indonesia's data centre market is booming as hyperscalers race to expand across Southeast Asia. PDG already has a 400MW portfolio in the country and recently announced the launch of a fourth Jakarta campus, JC4. Across Asia, its total portfolio now exceeds 1.8GW spanning seven countries.
"Indonesia is a key market in our portfolio, where demand for high-quality data center capacity continues to accelerate," said Rangu Salgame, PDG's chairman, chief executive officer, and co-founder. "As hyperscalers expand in the country, they require partners who can deliver at scale with speed, certainty, and global standards."
What could go wrong? Debt-fuelled data centre buildouts carry risk if demand softens or construction timelines slip. Indonesia's power grid and renewable energy infrastructure are still maturing, which could complicate PDG's green commitments. And competition for hyperscale contracts in the region is fierce, with rival operators also raising capital to expand.
The signal: This deal reflects a broader pattern: global lenders are increasingly willing to write large cheques for data centre infrastructure in emerging Asian markets. The green loan structure signals that sustainability credentials are becoming table stakes for attracting both bank financing and hyperscale customers. As AI workloads drive insatiable demand for compute capacity, Southeast Asia — and Indonesia in particular — is emerging as a critical frontier for data centre investment.
Read more: princetondg.com
