Hyperscale data center operator AirTrunk has secured a $1.24 billion green loan to refinance and expand its flagship Tokyo campus. The financing, described as the largest ever for a data center in Japan, supports the next phases of the TOK1 site, which is designed to scale beyond 300 megawatts. The expansion aims to meet rising demand for cloud and AI infrastructure, with construction already underway to add over 100 megawatts of capacity.
AirTrunk secured a 191.6 billion yen green loan, equating to $1.24 billion. The loan will refinance and expand its TOK1 data center campus in the greater Tokyo area. This marks what it described as the largest data center financing completed in Japan.
The expansion is intended to meet rising demand for cloud services and AI infrastructure. Japan is ramping up investment in digital computing capacity to support this growth.
“Japan is one of the world’s most important cloud and AI markets, and we’re committed to building the digital infrastructure that enables its long-term growth,” said AirTrunk founder and CEO Robin Khuda. Construction has already begun to add more than 100 megawatts of IT load at the facility.
The financing was arranged by a consortium of banks led by Sumitomo Mitsui Banking Corporation (SMBC), MUFG, Crédit Agricole CIB and Société Générale. In total, 12 lenders participated in the deal as mandated lead arrangers and bookrunners.
This follows AirTrunk’s recent announcement of a second hyperscale campus in Osaka and plans for a new Japan headquarters. AirTrunk’s total investment in Japan now exceeds $8 billion.
Once fully built out, the company’s four Japanese campuses are expected to deliver around 530 MW of combined capacity. This will make the platform one of the largest hyperscale data center networks in the country.
The loan was issued under AirTrunk’s Green Financing Framework. This framework requires facilities to meet strict energy efficiency standards aimed at lowering power consumption and emissions.
In 2024, AirTrunk was acquired by a consortium led by Blackstone and the Canada Pension Plan Investment Board (CPP Investments). The deal was valued at over $16 billion, marking the largest data center acquisition globally.
