GIC, Singapore’s sovereign wealth fund, and Equinix, the global interconnection and data center company, have agreed to enter into an 80:20 joint venture to acquire and develop six hyperscale data centers in Europe worth more than US$1 billion.
The Venture will acquire two operational data centers in London and Paris, which together deliver approximately 31MW of critical power to customers. It plans to further develop four data centers in Amsterdam, Frankfurt (two sites) and London. When fully developed, these initial six facilities will provide approximately 155 megawatts of power capacity.
Equinix will develop, operate, and manage the data centers.
Charles Meyers, President and CEO, Equinix
It has been a long journey to reach this point, but we are tremendously excited to announce the formation of our first xScale data centers joint venture.
Lee Kok Sun, CIO, GIC Real Estate
As a long-term value investor, we are confident that the strong growth in data consumption and public cloud data storage will continue to drive secular demand for hyperscale data centers.
