APAC data center firm Princeton Digital Group (PDG) is looking to raise $1 billion in debt across multiple projects, reports Bloomberg.

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– Princeton Digital Group

The funding will be used to expand PDG's business, and comes just a year after the company raised over $500m in a funding round led by Mubadala Investment Co.

A PDG spokesperson said that "given the business momentum and planned growth, the company constantly assesses its capital needs, including raising equity.”

PDG was founded in 2017. The company currently operates over 600MW of capacity in 21 data centers across 15 cities in China, Singapore, India, Indonesia, Malaysia, and Japan.

Earlier this week, PDG began work on its 150MW campus in Johor, Malaysia. The first phase is planned to be ready for service in Q2, 2024. PDG announced it would be investing $450m in the Johor development in May 2023, shortly after announcing plans to spend around $1bn expanding into Malaysia and Indonesia.

The company launched a 22MW data center in Jakarta, Indonesia, in September 2023, and topped off another 48MW facility in Tokyo, Japan in August.