Issue 181: Singtel acquires greener data centres; carbon tax in focus for Singapore Budget 2026

Sustainable investing

Singtel buys a greening portfolio of data centres

Singtel’s acquisition of a significant stake in data centre group ST Telemedia Global Data Centres (STT GDC) could be positive for the Singapore telco’s near-term greenhouse gas emissions targets, although the impact in the longer term may be more complicated.

KKR, a private equity firm, and Singtel announced on Wednesday (Feb 4) that they will buy the remaining 82 per cent stake in STT GDC they do not own for S$6.6 billion, or an implied S$13.8 billion of enterprise value when debt and committed capital expenditure are included. The acquirers first bought their 18 per cent stake in STT GDC in 2024 for about S$1.75 billion.