Milbank LLP advised the finance parties to PT Digital Gayana Ekagrata, a subsidiary of sponsor Digital Edge (a Stonepeak portfolio company), for the development of a 500 MW AI-ready hyperscale data center campus in Bekasi Regency, East Jakarta, Indonesia. The US$665 million green loan – the initial phase of a planned US$4.5 billion investment in the project – is among the largest green loan secured for a data center development in Indonesia. This green loan financing was led by BNP Paribas, Clifford Capital, Crédit Agricole CIB, DBS, Mizuho, OCBC, PT Bank Central Asia Tbk, and SMBC as Mandated Lead Arrangers, with each institution committed to advancing responsible infrastructure investment in line with Indonesia’s broader decarbonization ambitions. Crédit Agricole CIB, DBS, and PT Bank Central Asia Tbk also acted as Green Facility Coordinators.
The financing package will support the construction of the first two data center buildings and ancillary facilities, such as a revolving credit line and LC/BG facilities to support working capital, vendor arrangements and regulatory requirements during construction.
“We are delighted to support Digital Edge on this landmark transaction,” said Milbank’s Asia Managing Partner David Zemans. “Indonesia’s digital economy is expanding rapidly and it is gratifying to help guide this transformative transaction to fruition.”
“It is a privilege to work with investors and developers at the forefront of AI compute and digital infrastructure,” added Global Project, Energy and Infrastructure Finance partner James Orme. “This is another great example of Milbank advising clients on the buildout of high-capacity, AI-driven technologies for data center financings.”
Headquartered in Singapore and backed by Stonepeak, Digital Edge delivers high-performance data center and fiber solutions for hyperscalers and enterprises across nine countries in Asia Pacific. The project directly supports Digital Edge’s ambition of achieving carbon neutrality by 2030, reinforcing its leadership in delivering sustainable, next-generation AI- and hyperscale-centric digital infrastructure in Asia-Pacific.
The Milbank team was led by Mr. Orme and Mr. Zemans, and included special counsel Rosaline Yusman, of counsel Desiree Woo, associates Deirdre Swift, Kris Singh and Ed Skowronek.
