Abu Dhabi Investment Authority is investing up to $1.5 billion in Singapore-based GLP to support the logistics developer’s expansion of its digital infrastructure and renewable energy footprint.

The sovereign wealth fund will initially invest $500 million to accelerate GLP’s development of facilities that will benefit from the e-commerce boom, increasing adoption of AI and cloud computing, and the transition into renewable energy, according to a statement released on Thursday.

“With this enhanced capital base and strategic alignment, this investment further positions us to accelerate growth and take advantage of the significant market opportunities we see associated with the secular expansion of new economy sectors in which we operate,” Ming Mei, CEO of GLP said in the statement.

Backed by investors such as Chinese billionaire Zhang Lei’s Hillhouse Capital, Bank of China, and HOPU Logistics Investments, GLP has been ramping up its data center expansion to ride the AI boom and growing enterprise migration into cloud-based digital infrastructure in its key China market.

GLP has been raising fresh capital to support expansion plans in China, where it has a portfolio of data centers with a combined capacity of over 1.4 gigawatts. In April, it raised 2.6 billion yuan ($363 million) from its maiden digital infrastructure fund. This week, it sold part of its data center unit for 2.5 billion yuan to the state-linked Quzhou Industrial Holding Group.