Heaptalk, Jakarta — IFC announced a senior loan of US$150 million to bolster finance construction of the early phase of a 300 megawatt IT load, 72.5-acre data center campus by the global data center operator of Yondr Group.
Once complete, the project, located at the Sedenak Tech Park in Johor Baru, will become the largest data-center campus based in an emerging market in terms of combined metrics of land size and committed power capacity. It will also be certified by the Excellence Design for Greater Efficiencies (EDGE) green building program, IFC’s green building certification system focused on making buildings more resource-efficient.
“We are very pleased to conclude this round of financing with IFC. Not only do our values and interests align, but we are both organizations well-versed in offering industry-leading expertise to develop digital infrastructure projects. This financing demonstrates the potential IFC sees in Malaysia’s digital economy, which is developing at pace. We look forward to expanding our growing relationship with IFC and partnering in Malaysia and other developing nations in the future,” Yondr’s CFO, Chester Reid, said.
This project is IFC’s third investment in Malaysia since establishing a presence in the country last year. In December 2023, IFC also provided China’s Shandong Intco Recycling Resources Co. Ltd. with an innovative blue loan of $70 million to build a multi-material plastic recycling plant in Malaysia and support its operations’ working capital needs.
“This investment will advance digital connectivity for individuals and businesses in a sustainable manner, while increasing the competitiveness of the burgeoning market for data-hosting services in the country and the region,” Country Manager for IFC’s Singapore, Malaysia, and Brunei, Katia Daude Goncalves, said.
