AirTrunk, Asia Pacific-based hyperscale data center operator, has secured a JP¥191.6 billion ($1.24 billion) green loan to support the refinancing and continued development of its TOK1 hyperscale data center campus in East Tokyo.

The firm said in a statement on Tuesday that this is the largest data center financing ever completed in Japan, underscoring the critical role of hyperscale digital infrastructure as the country accelerates its cloud and artificial intelligence (AI) adoption.

Structured under AirTrunk’s Green Financing Framework, the loan will refinance existing facilities and fund development capital expenditure (capex) for the next phases of TOK1.

These phases will add additional capacity to the campus – which is scalable to over 300MW – enabling customers to expand their cloud and AI workloads securely, sustainably, and at speed. AirTrunk recently commenced construction to add over 100MW of information technology (IT) load at TOK1 to support near-term customer demand.

The financing was led by SMBC, MUFG, Crédit Agricole CIB and Société Générale as Global Coordinators.

In total, 12 banks acted as Mandated Lead Arrangers and Bookrunners (MLABs) including all four Global Coordinators plus BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB).

“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,

“AirTrunk has been investing deeply in Japan for this reason – to build the hyperscale platform that will underpin the country’s digital future and connect it to the broader region,” said Robin Khuda, AirTrunk Founder and Chief Executive Officer.

He said this landmark financing enables the firm to accelerate the expansion of TOK1 and continue delivering the capacity its customers need today, while preparing Japan for the extraordinary compute demands ahead.

The financing forms part of AirTrunk’s broader investment in Japan and follows the recent announcement of OSK2, the company’s second Osaka hyperscale data center as well as its new Japan headquarters.

With this expansion, AirTrunk’s total investment in Japan has now exceeded $8 billion to support existing and planned projects over the coming years.

At full build-out, AirTrunk’s four Japan campuses – TOK1, TOK2, OSK1 and OSK2 – will deliver about 530MW of total capacity for cloud and AI workloads, providing one of the largest hyperscale platforms in the country to support domestic and global technology customers.

“The structure of the facility reflects our commitment to transparency, sustainability, and innovation in capital markets, and further strengthens AirTrunk’s financing platform across the region,” AirTrunk Associate Vice President Treasury Japan, Masato Hori said.

The loan meets AirTrunk’s stringent energy efficiency standards, which require its data centers to operate significantly more efficiently than the regional average that results in less energy to deliver the same compute power.

This reduces emissions and supports AirTrunk’s 2030 Net Zero (Scope 1 & 2) commitments.

Margin incentives from the facility will be directed to the AirTrunk Social Impact Fund, supporting community initiatives across Japan, including STEM education, digital equity, biodiversity & conservation, sustainable innovation, and disaster relief.

“This milestone reflects our credibility of delivering sustainable digital infrastructure at scale and the strength of our relationships with financial markets in Japan,” AirTrunk Head of Japan, Nori Matsushita said.

This green loan builds on AirTrunk’s continued investment in Japan, unlocking the next stages of TOK1’s growth at a time when AI adoption is accelerating across government, industry, and research.

The financing supports the government’s Green Transformation (GX) ambitions, which aim to mobilize JP¥150 trillion in public–private investment to accelerate Japan’s decarbonization and next generation infrastructure. Green and transition finance are central pillars of this strategy.

Japan’s Basic Plan for Artificial Intelligence (2025) has identified hyperscale data centers as essential for national compute capacity, secure data localization, and safe AI deployment.

“AirTrunk’s TOK1 campus represents the scale, efficiency, and innovation required to support Japan’s rapidly expanding cloud and AI ecosystem,” said Takehisa Manabe, Sumitomo Mitsui Banking Corporation General Manager, Global Structured Finance.

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