Yondr group, data centre operator and developer announced today its joint venture with private equity firm Everstone group for data centres with an initial capital of $1 billion (Rs 7,445 crore).
Operating under the brand name EverYondr, the first facility will be set up in Mumbai Metropolitan Region, for which land and power have already been acquired. The data centre is estimated to deliver 30 MW by 2023 and 60 MW of IT capacity once fully developed. The partners said their joint venture will support hyperscale clients and service the rapidly growing Indian market, projected to exceed $4.5 billion by 2025.
Sameer Sain, Co-Founder & Chief Executive Officer, Everstone Group, 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 experience and Everstone’s strong execution capabilities in India will provide clients with a credible and consistent choice.”
The investment will be used to fund the development and operation of multi-locational hyperscale data centre businesses across important geographies like in metros of Mumbai Metropolitan Region, Hyderabad, Bengaluru, Chennai and the National Capital Region (Delhi).
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.”