Yondr Group, a global developer, owner-operator and service provider of hyperscale data centers, on Tuesday said it has formed a strategic joint venture partnership with private equity firm Everstone Group to deploy $1 billion to develop data centers 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, the two groups said in a statement.
Yondr is a privately owned data center developer, owner-operator with a track record in delivering hyperscale capacity with a presence in Europe, the Asia-Pacific region and the Americas.
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, the statement said.
“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,” said Sameer Sain, co-founder & chief executive officer of Everstone Group.
The investment will be used to fund the development and operation of multi-locational hyperscale data center business across important geographies in India, including but not restricted to the metros of Mumbai Metropolitan Region, Hyderabad, Bengaluru, Chennai and National Capital Region (Delhi).
“EverYondr’s early acquisition of its first campus in the Mumbai Metropolitan Region reinforces our commitment to the region. Unlike other mature hyperscale markets, data centers in India 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,” said Dave Newitt, CEO at Yondr Group.
This article was first published on livemint.