As part of the USD 1 billion partnership, the joint venture proactively acquired a piece of land for its first data center project in the Mumbai Metropolitan Region
SINGAPORE / MUMBAI — July 27, 2021 — Yondr Group, a global leader, developer, owner operator and service provider of hyperscale data centers, today announced it has formed a strategic joint venture partnership with Everstone Group (Everstone). Operating under the brand name EverYondr, the first facility located in the Mumbai Metropolitan Region, for which land and power have already been acquired, will deliver 30MW by 2023 and 60MW of IT capacity when fully developed.
Everstone is a leading private investment firm across private equity, real estate, green infrastructure, credit and venture capital. Its real estate arm, Indospace, is India’s largest industrial real estate developer in India with over 47 million square feet under development.
Yondr is a privately owned data center developer, owner operator with a significant track record in delivering hyperscale capacity with presence in Europe, the Asia-Pacific region and the Americas.
The joint venture, with an initial capitalisation of USD 1 billion will support hyperscale clients and service the rapidly growing Indian market, the size of which is projected to exceed USD 4.5 billion by 2025. The investment will be used to fund the development and operation of multi-locational hyperscale data center business across important geographies in India, including but not restricted to the metros of Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and National Capital Region (Delhi).
In recent years India has undergone significant digital transformation, with active internet user numbers reaching 525 million in 2019, representing an annual growth of 19.2 percent. Low cost smartphones and cheap data tariffs have further compounded the shift to digital, with data consumption increasing 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.
Starting with the Mumbai Metropolitan Region, the venture will deliver a portfolio of facilities at true hyperscale, significantly propelling India’s IT and power capacity to meet the growing demand from public cloud providers and end users at scale.
Sameer Sain, Co-Founder & Chief Executive Officer of Everstone Group, adds, “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.”
Dave Newitt, CEO at Yondr Group, comments, “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. Collaborating with a specialised and trusted partner like Everstone will enable us to continue to deliver on that promise in the Indian market that is critically under-served today. 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 unrivalled value to our hyperscale clients.”
About Yondr Group
Yondr Group is a developer, owner operator and service provider of hyperscale data centers. The company’s mission is to meet growing businesses’ data center capacity and technical real estate needs faster, more elegantly and with better performance outcomes than anyone else. As an organisation, Yondr self-funds, designs, delivers and operates hyperscale data center facilities globally. For more information, visit www.yondrgroup.com
About Everstone Group
Singapore headquartered Everstone is one of Asia’s premier investment firms. The firm has assets in excess of US$6 billion across private equity, real estate, infrastructure credit, and venture capital. Everstone has a significant resource base across its offices in New York, India, Singapore, London and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
Yondr Group, Everstone Group to invest $1B to develop, operate data centres in India
La start-up de centre de données Yondr verse 2 milliards de dollars pour entrer aux États-Unis et dans les Amériques
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Functionality cookies allow websites to remember the user’s site preferences and choices they make on the site including username, region, and language. This allows the website to provide personalized features like local news stories and weather if you share your location.
Performance cookies are cookies used specifically for gathering data on how visitors use a website, which pages of a website are visited most often, or if they get error messages on web pages. These cookies monitor only the performance of the site as the user interacts with it
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.