Data center firm Yondr Group has formed a joint venture with private investment firm Everstone Group to develop data centers in India.
Operating under the brand name EverYondr, the first facility located in the Mumbai Metropolitan Region.
Land and power for the development have already been acquired, and the data center will deliver 30MW by 2023 and 60MW of IT capacity when fully developed.
“EverYondr’s early acquisition of its first campus in the Mumbai Metropolitan Region reinforces our commitment to the region,” said Dave Newitt, CEO at Yondr Group. “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 unrivaled value to our hyperscale clients.”
The joint venture will see initial funding of $1 billion to develop and a number hyperscale data centers across India. The companies said planned developments include, but are not restricted to, the metros of Mumbai, Hyderabad, Bangalore, Chennai, and Delhi.
Everstone’s real estate arm, Indospace, is India’s largest industrial real estate developer in India with over 47 million square feet under development.
“To meet the accelerated pace of cloud adoption, hyperscale companies are increasingly looking to credible partners to help realize their expansion needs,” added Sameer Sain, Co-Founder & CEO of Everstone Group. “Yondr’s global experience, combined with Everstone’s strong execution capabilities in India, will provide clients with a credible and consistent choice.”
2021 has seen Digital Realty, Iron Mountain, and EdgeConneX all form joint ventures with investment partners to develop data centers in India. At the same time, the likes of CapitaLand, NTT, STT GDC, PDG, Hiranandani Group, and Reliance Jio have all made announcements around hyperscale facilities in the country this year.