Nasdaq-listed major data centre owner-operator Equinix has issued $650 million in green bonds in Singapore. The 2.90% senior notes due 2032 closed on Aug 21.
The latest issuance follows Equinix’s debut $500 million Singapore green bond, offered in March. Equinix has issued a total of approximately US$9.5 billion ($12.22 billion) of green bonds globally.
In an Aug 21 announcement, Equinix says it will use the green bonds to “further advance” sustainability leadership and reduce its environmental impact globally.
Proceeds will be allocated towards Equinix’s “eligible green projects”, which include green buildings, clean and renewable energy, energy efficiency, resource conservation, decarbonisation solutions and climate change adaptation.
Equinix’s allocation strategy includes covering project expenditures up to two years before the issuance of the green bonds and three years following the green bond issuance.
DBS Bank, HSBC, Oversea-Chinese Banking Corporation (OCBC) and Standard Chartered Bank served as joint global coordinators and joint lead managers and bookrunners. DBS served as the sole green bond structuring agent.
See also: Equinix issues $500 mil of 3.5% green bonds due 2030 in inaugural S’pore offering
Equinix has signed two renewable power purchase agreements (PPA) in Singapore for a maximum of 133.5 Megawatt peak (MWp) of renewable energy to support its expanding data centre portfolio in Singapore.
The more recent PPA, announced in December 2024, was signed with Sembcorp Power, a wholly-owned subsidiary of Sembcorp Industries.
Under the PPA, Sembcorp will provide a maximum capacity of 58.5 MWp of solar energy generated from JTC’s properties on Jurong Island starting in 2029. This is equivalent to powering over 17,200 4-room HDB flats annually and reducing over 30,275 tonnes of carbon emissions per year.
Equinix operates five data centres in Singapore. Four are stabilised, one is in expansion mode; three are leased and two are owned.
Equinix’s upcoming SG6 facility, expected to open in 1Q2027, is “designed with sustainability in mind”, according to the company. It will “efficiently” handle “compute-intensive workloads” like AI, supported by capabilities such as advanced liquid cooling.
Leong Yee May, Equinix’s Singapore managing director, says green financing can accelerate innovations in energy-efficient infrastructure, clean and renewable energy, and address the growing demands of AI and other emerging technologies like liquid cooling.
Leong adds: “This milestone reinforces our role in enabling Singapore’s transition to a low-carbon economy while delivering high-performance, future-ready solutions that benefit our customers and the communities in which we operate.”
