Sep 09, 2022 | Posted by MadalineDunn
AirTrunk has announced that it has closed Japan’s first data center green loan as part of its new Green Financing Framework to finance its 110+MW West Tokyo data center, AirTrunk TOK2. The size of the loan has not yet been disclosed.
In line with the company’s green financing framework, its projects must meet certain eligibility requirements to be financed through the loan; the three categories defined as ‘green loan’ eligible by AirTrunk include Green Data Centre, Renewable Energy, and Water Efficiency.
According to a statement on the company’s website, the joint Sustainability Structuring Agents for the innovative framework and green loan were Credit Agricole CIB, who also advised on the SLL, and MUFG Bank. Meanwhile, Sustainalytics provided independent verification via Second Party Opinion of the Framework.
Commenting on what this loan means for the company and its sustainability goals, AirTrunk Chief Financial Officer Prashant Murthy said: “We continue to drive sustainable innovation throughout the design, build, operations, and financing of our data centers. The green loan closed today has set several industry benchmarks including being the first for a data center in Japan, and first to use eligibility criteria based on operating PUE and water productivity.”
Daisuke Nishiyama, Managing Director, Head of Sustainable Business Division, MUFG Bank, Ltd., said: “We are proud to be partnering with AirTrunk to execute the first green loan in the data center sector in Japan, and drive innovation in the sustainable finance market. This green loan is in line with AirTrunk’s ambitious and first-of-its-kind Green Financing Framework, and we are pleased to have played a part as a sustainability structuring agent in the development of this sector-leading framework. We look forward to our continued partnership and collaboration with AirTrunk.”
Antoine Rose – Head of Sustainable Banking, Asia-Pacific and the Middle East at Crédit Agricole CIB, added: “Crédit Agricole CIB is very proud to accompany AirTrunk as Sustainability Structuring Agents for this data center financing, this is our second collaboration in a row after successfully closing AirTrunk’s inaugural Sustainability-Linked Loan last year. AirTrunk continues to strengthen its footprint in sustainable finance by launching its Green Financing Framework confirming its sustainability ambition and supporting high standards for this sector.”
