Evolution DC TH

pending

Evolution Data Centres (“EDC” or the “Sponsor”) is a hyperscale-oriented data center (“DC”) platform focused on serving underserved, high-growth markets in Southeast Asia. To facilitate its expansion in Thailand, EDC established the subsidiary Evolution DC (Thailand) Co. Ltd. (“Evolution Thailand” or “Project Company”) in partnership with Central Pattana Public Company Limited (“Central Pattana”), which holds a 15% stake in the Project Company. The remaining 85% is held by EDC’s holding entity. Together, they are developing, constructing, and will operate a 52MW data center in Bangkok, Thailand (the “Project”). The project construction is being supervised by Project Managers, a third-party company.The project involves the greenfield development of a data center across approximately 5,000 square meters of land, comprising two phases: Phase I is a four-story building, and Phase II is a three-story building. Construction of the Phase I building commenced in December 2024 and is expected to be completed in the third quarter of 2026. The Phase II building is currently in the initial stages of development, with construction scheduled to commence in mid-2026. This timeline may overlap with the completion of the Phase I building. The project is targeting EDGE certification to promote resource efficiency and sustainability. Upon completion, data center space will be leased to customers who will store their own data equipment. The Project Company will remain as the landlord, retaining responsibility for housekeeping of public areas and site security, both of which will be outsourced to an asset management company. The Project Company will not be involved in the operations of the tenants.IFC is considering a loan of up to US$150 million to the Project Company, to be disbursed in phases. The phase I investment will comprise up to US$20 million to support the acquisition of project land and part of core and shell capex, while details regarding subsequent phases are yet to be defined.