New Delhi: The Adani Group<\/a> has formed a 50:50 joint venture with US-based data centre operator EdgeConneX<\/a> to build hyperscale data parks in the six cities and edge centres pan-India.
\"Adani Enterprises<\/a> Limited has signed joint venture agreement with EdgeConneX, Inc, through its affiliate EdgeConneX Europe B.V. which will receive 50% equity stake in Adani’s data centre arm DC Development Chennai Private Limited (DCDCPL), a wholly owned subsidiary which was formed to set up data centre business Chennai,\" the company said in an exchange filing on Tuesday.
No financial details were specified in the joint statement.
AdaniConneX JV has begun development of hyperscale facilities in Chennai, Navi Mumbai, Noida, Vizag and Hyderabad and will also develop scalable edge data centres pan-India.
“This pan-Indian platform of hyperscale and hyperlocal data centers will largely be powered by renewable energy,” the company said.
Despite intense competition among global and local data center<\/a> players in India to grab a pie of exploding data growth opportunities, the deal between Adani and EdgeConneX will revolutionise the industry by combining tech expertise with green energy resources and revamp the real estate market.
“The Adani Group’s announcement to develop a 1GW capacity of data centers over the coming decade through a joint venture with EdgeConneX Europe is a milestone for the real estate sector in India,” said Anuj Puri, Chairman of Mumbai-based property consulting firm Anarock.
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