Singapore-headquartered DayOne Data Centers has secured a four-year S$530 million ($415 million) green loan from DBS, OCBC, and UOB to finance its first data centre in Singapore, as demand for digital infrastructure grows alongside artificial intelligence and cloud computing.
DBS said the 20-megawatt facility could become Singapore’s first data centre to generate power on site using hydrogen fuel cells.
Located in western Singapore, the facility broke ground in July 2025 and is expected to begin operations in the first quarter of 2027.
The financing was structured under the Green Loan Principles, an international framework for lending that supports environmentally sustainable projects.
DBS, OCBC, and UOB acted as joint mandated lead arrangers, bookrunners, and green loan coordinators. DBS also serves as facility and security agent.
DayOne plans to incorporate on-site solid oxide fuel cell power generation as a proof of concept for hydrogen-based energy, which the company and lenders said would be a first for Singapore’s data centre industry.
The facility will also incorporate vertical building-integrated solar panels and use a combination of air and liquid cooling technologies aimed at improving energy efficiency.
“Demand for digital infrastructure continues to accelerate, driven by AI and cloud computing, both of which are highly energy-intensive,” said Han Kwee Juan, group head of institutional banking at DBS.
Han added that financing more energy-efficient facilities would be important as the digital economy expands.
Elaine Lam, head of global corporate banking at OCBC, said innovative energy solutions would play an increasingly important role in supporting the sustainable growth of digital infrastructure.
The financing comes as data centre operators seek to expand capacity while addressing the sector’s growing electricity requirements, particularly as AI workloads require increasingly power-intensive computing infrastructure.
Founded in 2022, DayOne operates data centres across Asia and Europe. The company has a presence in Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland, and Spain.
In June, DayOne announced the final closing of its Series C equity financing with total gross proceeds of $4.5 billion as the company moved to accelerate its expansion across Asia Pacific and Europe.
The Series C round was led by existing investors Coatue and Hillhouse, now DayOne’s two largest shareholders, with participation from new investors including the Indonesia Investment Authority and Achi Capital Partners.
Since its inception in 2022, DayOne has secured more than 1.5 gigawatts of total bookings for capacity across Asia Pacific and Europe, making it one of the largest and fastest-growing international digital infrastructure platforms, according to the company.
Its Singapore project marks an expansion into its home market while testing alternative power technologies that could help reduce the environmental impact of rapidly growing data centre infrastructure.