Yondr group, a developer and operator of data centres, said today it has formed a joint venture with Everstone group for data centres. The JV will have a initial capital of $1 billion.
Operating under the brand name EverYondr, the first facility to be located in Mumbai Metropolitan Region, for which land and power have already been acquired, will deliver 30 Mw by 2023 and 60 Mw of IT capacity when fully developed, it said.
The joint venture will support hyperscale clients and service the rapidly growing Indian market, the size of which is projected to exceed $4.5 billion by 2025. The investment will be used to fund the development and operation of multi-locational hyperscale data centre businesses across important geographies in India, including, but not limited to the metros of Mumbai Metropolitan Region, Hyderabad, Bengaluru, Chennai and the National Capital Region (Delhi), it said.
Sameer Sain, Co-Founder & Chief Executive Officer, Everstone Group, adds, “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 and Everstone’s strong execution capabilities in India will provide clients with a credible and consistent choice.”
Dave Newitt, CEO, Yondr Group, said, “Unlike other mature hyperscale 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 center capacity and technical real estate needs, faster and with better performance outcomes than anyone else."
He added: "Collaborating with a specialised and trusted partner like Everstone will enable us to continue to deliver on that promise in the Indian market that is critically under-served today. 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.”