Yondr Group, the Amsterdam-based global data centre major, has entered into a strategic tie-up with Singapore-based private equity firm Everstone Group to develop and operate data centres in India.
"Operating under the brand name EverYondr, the first facility located in the Mumbai Metropolitan Region, for which land and power have already been acquired, will deliver 30MW by 2023 and 60MW of IT capacity when fully developed," said a joint statement issued by the two companies on July 27.
The joint venture, with an initial capitalisation of $1 billion will support hyperscale clients and service the rapidly growing Indian market, the size of which is projected to exceed $4.5 billion by 2025, it added.
The investment will be used to fund the development and operation of multi-locational hyperscale data centre business across important geographies in India, including but not restricted to the metros of Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and National Capital Region (Delhi), the statement added.
“To meet the accelerated pace of cloud adoption, hyperscale companies are increasingly looking to credible partners to help realise their expansion needs. Yondr’s global experience combined with Everstone’s strong execution capabilities in India, will provide clients with a credible and consistent choice," Sameer Sain, Co-Founder and Chief Executive Officer of Everstone Group, said.
According to Yondr Group CEO Dave Newitt, data centers in India, unlike other mature hyperscale markets, require a proactive approach to development and a streamlined delivery process.
"Bringing together Everstone’s deep knowledge of the Indian market and Yondr’s technical expertise and track record in developing capacity at scale, this joint venture will deliver unrivalled value to our hyperscale clients," Newitt added.
Notably, Everstone's real estate arm, Indospace, is India’s largest industrial real estate developer in India with over 47 million square feet under development.
Yondr's entry into the Indian market is considered as significant, given its track record in delivering hyperscale capacity in Europe, the Asia-Pacific region and the Americas.In recent years, India has undergone significant digital transformation, with active internet user numbers reaching 525 million in 2019, representing an annual growth of 19.2 percent.