For its first project data centres in the Mumbai Metropolitan Region, the JV has already acquired a land parcel as part of the partnership
US-based Yondr Group has entered into a strategic joint venture (JV) with Singapore-based Everstone Group to develop and operate data centres across India with an investment of $1 billion.
Including the metros of Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and Delhi-National Capital Region, the investment will be used to fund the development and operation of multi-locational hyper scale business of data centres across important geographies in India.
Significantly propelling India’s IT and power capacity to meet the growing demand from public cloud providers and end users at scale, the venture will deliver a portfolio of facilities at hyper scale staring with the Mumbai Metropolitan Region.
“EverYondr’s early acquisition of its first campus in the Mumbai Metropolitan Region reinforces our commitment to the region. Unlike other mature hyper scale markets, data centres in India require a proactive approach to development and a streamlined delivery process. As a business, our mission is to help clients meet their data centres capacity and technical real estate needs, faster and with better performance outcomes than anyone else”, said Dave Newitt, CEO, Yondr Group.
For its first project data centres in the Mumbai Metropolitan Region, the JV has already acquired a land parcel as part of the partnership. Operating under the brand name EverYondr, this first facility located in the Mumbai region, for which power supply apart from land has also been secured, will deliver 30MW by 2023 and 60MW of IT capacity when fully developed.
“To meet the accelerated pace of cloud adoption, hyper scale companies are increasingly looking to credible partners to help realise their expansion needs. Yondr’s global experience combined with Everstone strong execution capabilities in India will provide clients with a credible and consistent choice”, said Sameer Sain, Co-Founder & Chief Executive Officer of Everstone Group.
Data centres in India are emerging as the most attractive growth opportunity for global institutional investors and leading developers. Along with the rapid development of campus sizes found in the most established global cities, investments are flowing into the markets of data centres, with multiple new markets created simultaneously.
So far, a total $13.5 billion investment has been planned and committed for data centres development in the country and global firms’ contribution out of this is more than 70 per cent, showed data from Cushman & Wakefield.
Leading global entities including STTelemedia, ESR, NTT, Colt and Princeton Digital Group, Brookfield Asset Management and Digital Realty have already started investing in this space.
Representing an annual growth of over 19 per cent, India, in recent years, has undergone significant digital transformation, with active internet user numbers reaching 525 million in 2019. With data consumption increasing 37-fold, from 0.26GB to 9.8GB per user between 2014 and 2018, low-cost smartphones and cheap data tariffs have further compounded the shift to digital.
With a population of more than 1.3 billion and data consumption per user forecast to reach 18GB per user by 2024, India represents a major market opportunity, surpassed only by the US and UK.