AirTrunk lands $1B green loan to cool Tokyo data centre
What's the deal? AirTrunk, the Blackstone-owned data centre builder, has secured a USD1 billion ($1.43 billion) green loan to deploy liquid cooling technology at its TOK1 data centre in Tokyo. The facility could eventually hold 300MW of capacity when fully built.
Why now? The debt follows a USD1.24 billion green loan raised earlier this year to develop TOK1. AirTrunk's total investment commitment across existing and planned projects in Japan now stands at USD9 billion.
What's the endgame? The cooling technology will serve "multiple customers" at the site, with the first liquid cooling capacity expected to go live in January 2028. AirTrunk first deployed the technology in Malaysia in 2024, and the Tokyo rollout will help shape future deployments across Japan and the Asia Pacific.
By the numbers: The loan ranks among the largest debt deals in its class, sitting in the 98th percentile of Australian infrastructure debt rounds on record.
The signal: Liquid cooling is becoming central to how operators handle the heat loads of AI-era computing. AirTrunk's scaling bet on Japan shows where the data centre build-out is headed — and how much capital it will take to get there.
Read more: capitalbrief.com
Image credit: U.S. Army Combat Capabilities Development Command
