AirTrunk has secured a JP¥191.6 billion, equivalent to $1.24 billion, green loan to refinance and expand its TOK1 hyperscale data centre campus in East Tokyo. The transaction marks the largest data centre financing completed in Japan and reflects rising capital flows into digital infrastructure supporting cloud computing and artificial intelligence growth.

The loan is structured under AirTrunk’s Green Financing Framework and will refinance existing facilities while funding additional development phases at TOK1. The campus is designed to scale beyond 300 megawatts of capacity, with more than 100 megawatts of new IT load currently under construction to meet near-term demand.

 

Expansion Aligned With AI and Cloud Demand

 

Japan is emerging as a core market for hyperscale data centres as enterprises, public institutions and technology firms accelerate AI adoption. AirTrunk’s expansion is positioned to support secure, high-capacity compute infrastructure while maintaining energy efficiency standards that exceed regional averages.

At full build-out, AirTrunk’s four Japan campuses, TOK1, TOK2, OSK1 and OSK2, are expected to deliver approximately 530 megawatts of combined capacity. The company’s cumulative investment in Japan has now exceeded $8 billion, reflecting long-term commitment to the country’s digital infrastructure build-out.

The financing was coordinated by Sumitomo Mitsui Banking Corporation, MUFG, Crédit Agricole CIB and Société Générale as Global Coordinators. A syndicate of 12 banks participated as Mandated Lead Arrangers and Bookrunners, including BNP Paribas, Mizuho Bank, DBS Bank, OCBC and United Overseas Bank, among others. The breadth of the lender group illustrates sustained institutional appetite for green digital infrastructure assets.

 

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Energy Efficiency and Net Zero Targets

 

The facility meets AirTrunk’s internal energy efficiency standards, which require data centres to operate significantly more efficiently than regional averages in order to reduce emissions intensity per unit of compute power delivered. The company has committed to achieving net zero Scope 1 and Scope 2 emissions by 2030.

Margin incentives attached to the green loan will be directed to the AirTrunk Social Impact Fund, supporting initiatives in Japan across STEM education, digital inclusion, biodiversity conservation, sustainable innovation and disaster response.

The financing also aligns with Japan’s Green Transformation strategy, which aims to mobilise approximately JP¥150 trillion in public and private investment to accelerate decarbonisation and next-generation infrastructure. Green and transition finance mechanisms are central components of that policy agenda.

 

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Strategic Role in National AI Infrastructure

 

Japan’s 2025 Basic Plan for Artificial Intelligence identifies hyperscale data centres as essential infrastructure for secure data localisation and national compute capacity. The expansion of TOK1 is positioned to support those objectives by increasing domestic high-density computing capacity while maintaining sustainability-linked performance metrics.

The scale of the transaction signals growing recognition among financial institutions that energy-efficient digital infrastructure is becoming a strategic asset class, particularly as AI-driven electricity demand accelerates. For lenders, the structure demonstrates how green finance instruments are being applied beyond traditional renewable energy projects to capital-intensive technology infrastructure that underpins economic growth.

As AI adoption expands across sectors, hyperscale operators such as AirTrunk are likely to remain central to both digital transformation and energy transition strategies, especially in markets where policy frameworks encourage alignment between infrastructure investment and decarbonisation goals.