Equinix and GIC to develop data centres in Europe costing $1bn
The California-based data centre company, Equinix, has partnered with the Singapore’s sovereign wealth fund, GIC, to develop new data centres in Europe.
The companies will develop and operate xScale data centres, targeting hyperscale businesses.
Initially six data centres will be built in Amsterdam, Frankfurt, and London. The sites will have a combined capacity of 155MW.
GIC will own 80% of the joint venture’s equity interest, with Equinix owning the remaining 20%.
“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,” commented Charles Meyers, President and CEO of Equinix.
“Partnering with a world-class investment partner like GIC will provide the opportunity to make significant capital investments in order to capture targeted large-footprint deployments while continuing to optimize our capital structure.”
“The JV structure will enable us to extend our cloud leadership while providing significant value to a critical set of hyperscale customers.”
“We look forward to launching similar JVs in other operating regions and believe that these efforts will continue to further differentiate Equinix as the trusted center of a cloud-first world.”