Data center operator Princeton Digital Group (PDG) has raised $856 million to finance the buildout of its 120MW JC3 campus in Jakarta, Indonesia.

The campus is designed to support hyperscale and AI infrastructure deployments and will consist of two data center buildings developed in phases.

PDG’s financing consists of a $456m syndicated facility and a $400m accordion facility, currently in progress.

The syndicated facility is fully underwritten by DBS, HSBC, Maybank, SMBC, and Standard Chartered. The financing is structured under PDG’s Green Finance Framework; the company said it is one of the largest green loans in the region.

“Securing this financing underscores both the strength of our business model and the confidence of leading global financial institutions in our ability to execute at scale,” said Rangu Salgame, chairman, CEO, and co-founder of PDG. “Indonesia is a key market in our portfolio, where demand for high-quality data center capacity continues to accelerate. As hyperscalers expand in the country, they require partners who can deliver at scale with speed, certainty, and global standards.”

PDG has invested significantly in Indonesia, with a portfolio totalling 400MW. Across Asia, including Malaysia, Japan, India, China, Indonesia, Singapore, and South Korea, the company claims more than 1.8GW of capacity.

The company broke ground on its JC3 campus in November last year. And in April, PDG acquired another site in Jakarta, with plans to construct another data campus, JC4.

PDG was founded in 2017 and is headquartered in Singapore. Alongside its investments in Asia, it is also exploring development opportunities in Australia.

Reports emerged in April that PDG may be looking into a strategic review and minority sale, but these are as yet unconfirmed.