STT GDC lands US$1.37 billion for its Johor build
The lenders, the load, and the sustainability record behind it.
STT GDC has announced a green financing facility of up to US$1.37 billion to support the development of its Johor data centre campus.
It is a sizeable sum, and the list of names behind it says as much about the Johor market as it does about the company.
Funding the build
The package will support STT Johor, a data centre campus at Nusa Cemerlang Industrial Park in Johor, Malaysia.
According to the release, it was secured with the support of a consortium of financial institutions comprising UOB, OCBC, Standard Chartered Bank, and CIMB. The facility includes a Green Loan Facility for Phase 1 of the campus.
The number of mandated lead arrangers involved is a strong vote of confidence in the Johor data centre market. Banks do not queue up like this for a market they are unsure about.
Scaling up
STT Johor is STT GDC's flagship Malaysia campus, with a planned development capacity of up to 166MW of IT load. That is more capacity than its seven Singapore data centres combined, and a significant step up from the 120MW mentioned at the groundbreaking of STT Johor 1 in February 2025. The campus also has direct connectivity to STT Singapore 5 at Tai Seng.
STT GDC has not named its anchor customers, though it cites cloud, AI, high-performance computing and next-generation digital workloads.
It isn't completely clear whether "Phase 1" of the campus refers to STT Johor 1. A fact sheet on the firm's website does note that STT Johor 1 will have a design PUE of 1.3, fan walls for cooling, up to four fibre entry points, floor loading of 15 kN/sqm, and up to 6m slab-to-slab. Its ready-for-service date is Q2 2027.
Walking the talk
The green label on the financing isn't decoration. STT GDC has long had its eye on sustainability, using renewable Hydrotreated Vegetable Oil (HVO) for backup generators and starting a testbed for the adoption of DC power at Jurong Island.
According to its latest ESG report, renewable energy accounted for 83.2% of its electricity consumption in 2025, while carbon intensity was reduced by 70.5% against its 2021 baseline. The company also achieved an average Power Usage Effectiveness (PUE) of 1.44, a 13% improvement from its 2020 baseline, and improved Water Usage Effectiveness (WUE) by 41.2% over the same period.
All of this sits on a platform of more than 100 data centres and 2.3GW of capacity, with multiple sites in just about every country in the region. In February, KKR and Singtel acquired the remaining 82% stake in STT GDC for S$6.6 billion.
New ownership, fresh capital, and a Johor campus that will outsize the entire Singapore portfolio. The question now is who fills it.
