Charts out US$1B expansion in China.
Princeton Digital Group (PDG), Asia’s leading data center provider, today announced it has secured USD 230 million debt refinancing from China Merchants Bank, as part of its $1 Billion expansion plan in China.
The refinancing validates PDG’s momentum, with confirmation of the completion of its fully contracted 42MW Shanghai data center campus. PDG also kicked off construction of its 43 MW campus in Nanjing and design work of its 60 MW campus in Nantong.
In addition, PDG is actively evaluating acquisition opportunities in the Beijing, Shenzhen, and Shanghai areas as part of its 300MW expansion plan.
PDG continues to build on its position as the largest international partner to domestic cloud companies in China as well as a partner for them as they expand across Asia. For international companies PDG is the only global operator in China that can give them the scale and service they expect of a global operator.
China is seeing growth come from both enterprise and hyperscale users of data center colocation. China is home to a number of cloud infrastructure platforms, social media, e-commerce, and content providers that all have multi-MW requirements, said Jabez Tan head of research at Structure Research.
“This has created a healthy stream of demand that guarantees steady and consistent colocation absorption, stated Jabez Tan, Head of Research at Structure Research,” he said. “According to Structure Research estimates, the data center colocation market in China generated US$13.5 billion in revenue in 2020 and is projected to grow at a 13.6 per cent CAGR in the next five years.”
