Staff of Reuters Read for 2 minutes (Reuters) – SINGAPORE (Reuters) – Princeton Digital Group (PDG), based in Singapore and financed by private equity firm Warburg Pincus, announced on Tuesday that it would invest $1 billion in a data center facility in Japan, marking the company’s entry into its fifth country. According to the corporation, the new campus in Saitama City, a commercial center in the Greater Tokyo area, will have a total capacity of close to 100 megawatts (MW) divided into two phases of 48.5 MW each. According to Chief Executive Rangu Salgame, the Japan campus would be completely operational by the end of 2023 or early 2024. PDG’s capacity will increase to 450 MW with the addition of the new facility. PDG, which was founded in 2017, already operates 18 data centers in China, Singapore, Indonesia, and India. According to Salgame, the company is trying to expand its footprint in existing regions while also eyeing new ones such as South Korea and other Southeast Asian countries. He stated that the company aspires to have a 600 MW capacity portfolio soon. As part of a $1 billion expansion strategy in China, the company got $230 million in debt refinancing from China Merchants Bank in April. It received $360 million in financing from the Ontario Teachers’ Pension Plan Board last year. According to Salgame, the Japan project will be financed with a mix of equity and debt. “We have a lot of money to work with. However, as a group, we are constantly speaking with investors in the marketplace “Added he. As more organizations and people go online as a result of the COVID-19 epidemic, demand for data centers has increased, driving up the demand for hosting, storage, and cloud computing resources. Aradhana Aravindan contributed reporting from Singapore, and Ed Davies edited the piece. Continue reading
