Everstone Group And Yondr Group To Invest $1B In Developing, Operation Data Centres In India
- BySheetal Sidhu | July 28, 2021
Dutch data centre developer Yondr Group on Tuesday said it has formed a joint venture with private equity firm Everstone Group and will invest over $1 billion (about Rs 7,443 crore) to develop and operate data centres across India. The joint venture, with an initial capitalisation of $1 billion will support hyperscale clients and service the rapidly growing Indian market, which is projected to exceed $4.5 billion by 2025, a statement said. “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),” it added.
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, it said. 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. Low-cost smartphones and cheap data tariffs have further compounded the shift to digital, with data consumption increasing 37-fold, from 0.26 GB to 9.8 GB per user between 2014 and 2018.
Follow Startup Story
Related Posts
