Digital Edge secures $335m green loan for Seoul project

APAC-focused operator Digital Edge has secured its first green loan worth $335 million to support the first phase of the previously announced 100MW data center project in Seoul (SEL2), South Korea. Once completed, the SEL2 will be the largest commercial data center project in South Korea, and it is expected to go live in Q3 2024 with an anchor tenant in place for phase one.

The joint coordinators for the financing were Crédit Agricole CIB and ING Bank, and the loan will be issued in two tranches, a fixed tranche, and a floating tranche, over a five-year term.

Digital Edge CFO Jonathan Walbridge said, “Our first green loan is a key milestone in our growth journey and is evidence of how the economic performance of our platform goes hand in hand with our commitments to sustainability."

Andrew Thomas, Stonepeak senior managing director, added, "We share Jonathan and the Digital Edge management team's excitement about the green financing for SEL2, which is a testament to Digital Edge's ability to execute projects abiding by the highest environmental standards while also prioritizing the needs of its customers.”