Asia-focused data centre platform Digital Edge ( Singapore ), backed by global infrastructure investor Stonepeak, has achieved the successful close of an 800 billion South Korean won ( US$581.67 million ) green loan to fund the development of SEL3, the second phase of its flagship 96-megawatt ( MW ) campus in the Seoul metropolitan area.

The close, Digital Edge says, marks a major milestone in developing one of South Korea’s largest commercial data centre developments, first launched in 2022.

The loan was significantly oversubscribed, attracting strong support from a diverse group of Korean and international financial institutions. This is the platform’s second green loan in Korea, reinforcing its commitment to sustainable infrastructure development in the region.

SEL3, located in Bupyeong-gu, Incheon, and adjacent to the company’s SEL2, will add 60MW of capacity and complete the full 96MW campus. Designed for high-density, scalable deployments, the campus, the company notes, caters to the growing needs of hyperscale and enterprise customers in South Korea.

Construction on SEL3 began in May, and it is targeted to be with ready for service by Q4 2027. The project extends the company’s partnership with local developer SK Ecoplant, which successfully delivered the SEL2 facility in 2024.

SEL2 is the company’s first purpose-built hyperscale and artificial intelligence ( AI ) facility in Korea. It has, the company points out, already secured strong leasing momentum from major cloud and digital platform customers, validating the company’s strategic investment in the market.

“This financing demonstrates continued confidence in our platform,” says Jonathan Walbridge, the company’s CFO, “and affirms our long-term commitment to building digital infrastructure responsibly and sustainably.”

Andrew Pak, the company’s South Korea manager, adds: “As one of the largest commercial DC [data centre] campuses in South Korea, SEL3 reinforces our commitment to this country. This highly energy efficient facility helps realize the potential of cloud and AI in South Korea.”