Singapore-based data center platform DayOne has secured SGD 530 million (US$ 415 million) green loan from Singapore-based leading banks DBS, OCBC and UOB to support a first-of-its-kind proof of concept for hydrogen-based power generation in a data center in Singapore. The data center, DayOne’s first in Singapore will integrate Solid Oxide Fuel Cell (SOFC) technology on-site.
DBS, OCBC and UOB are acting as Joint Mandated Lead Arrangers and Bookrunners, as well as Green Loan Coordinators for the four-year green loan. DBS is also serving as the Facility and Security Agent, according to the banks’ press release.
Located in the western part of Singapore, the 20-megawatt (MW) data center, SG1, broke ground in July 2025 and is expected to be ready for service by Q1 2027. It will feature vertical building-integrated photovoltaics (BIPV) and incorporate hybrid air and liquid cooling technologies to increase energy efficiency.
In December 2025, the facility was awarded BCA Green Mark Platinum (Provisional) certification, the highest Green Mark rating awarded by Singapore’s Building and Construction Authority under the Green Mark for Data Centres Scheme.
DayOne’s footprint spans across Asia and Europe, covering Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland and Spain.
Han Kwee Juan, Group Head of Institutional Banking, DBS, said: “Demand for digital infrastructure is accelerating as AI and cloud computing continue to reshape economies across Asia. Drawing on our expertise in financing digital and renewable infrastructure projects, we are pleased to partner DayOne and the bank consortium to finance Singapore’s first data centre to pioneer a proof-of-concept for hydrogen-based energy. Singapore is well-positioned to lead financing of green and energy efficient digital infrastructure in Asia.”
Elaine Lam, Head of Global Corporate Banking, OCBC, said: “Singapore’s first data centre incorporating hydrogen power represents an important milestone in the evolution of sustainable digital infrastructure. As demand for digital services and connectivity continues to grow, innovative energy solutions will play an increasingly important role in supporting this growth sustainably. This financing reflects OCBC’s commitment to supporting technology sectors, including digital infrastructure, which are increasingly critical to economic development, while advancing energy transition solutions that enable sustainable growth.”
Edmund Leong, Head of Group Corporate Banking and Sector Solutions Group, UOB, said: “This financing supports next-generation infrastructure that will strengthen Singapore’s position as a leading AI and digital hub while advancing sustainability goals.”