Through this JV, which will operate under the name EverYondr, the firms intend to invest over $1 billion to set up and operate data centres in India
International data centre giant Yondr Group has formed a strategic joint venture (JV) with Singapore-based Everstone Group. Through this JV, which will operate under the name EverYondr, the firms intend to invest over $1 billion to set up and operate data centres in India.
This multi-location hyperscale data centre business will be spread across important locations in the country. These would include metros such as Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and Delhi-National Capital Region.
The JV will begin its operations from the Mumbai Metropolitan Region. It aims to deliver a portfolio of facilities at hyperscale which it hopes would substantially boost India's IT and power capacity that is required to meet the growing demand from public cloud providers and end-users.
"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. 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," said Dave Newitt, CEO, Yondr Group.
The JV has already acquired the land and secured power supply for setting up its first data centre in the Mumbai Metropolitan Region. The facility will deliver 30MW by 2023 and 60MW of IT capacity when it has been fully developed.
"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.
In recent years India has undergone significant digital transformation, with active internet user numbers reaching 525 million in 2019. Low-cost smartphones and cheap data tariffs have further boosted the shift to digital. Data consumption has increased 37-fold, from 0.26GB to 9.8GB per user between 2014 and 2018.
With a population of more than 1.3 billion and data consumption per user forecast to reach 18GB per user by 2024, India represents a major market opportunity, surpassed only by the US and UK, according to the firms.
Source: https://www.businesstoday.in/latest/corporate/story/yondr-everstone-form-jv-to-invest-over-1-bn-for-setting-up-operating-data-centres-in-india-302530-2021-07-27