KUALA LUMPUR: The International Finance Corporation (IFC) is set to finance the first phase construction of a 300 megawatt IT load, 29.34-hectare (72.5-acre) data centre campus by Yondr Group with a senior loan of US$150 million.
IFC is the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group.
"This project would help raise and improve digital connectivity for individuals and businesses sustainably, while increasing the competitiveness of the burgeoning market for data-hosting services in the country and the region," IFC country manager for Singapore, Malaysia, and Brunei Katia Daude Goncalves said in a statement today.
On completion, the project, located in Johor Bahru's Sedenak Tech Park, will be the largest data centre campus in Asia Pacific's emerging markets, in terms of combined metrics of land size and committed power capacity.
"It will also be certified by the Excellence in Design for Greater Efficiencies (EDGE) green building programme, IFC's green building certification system focused on making buildings more resource efficient," said IFC.
Meanwhile, Yondr chief financial officer Chester Reid said the financing demonstrates the potential IFC sees in the company's best-in-class capabilities and also in Malaysia's digital economy, which is developing at pace.
"We look forward to expanding our growing relationship with IFC and partnering in Malaysia and other developing nations," he said.
The project is IFC's third investment in Malaysia since establishing a presence in the country last year.
In December 2023, IFC also provided China's Shandong Intco Recycling Resources Co Ltd with a US$70 million loan to build a multi-material plastic recycling plant in Malaysia and support the working capital needs of its operations. - Bernama