Reliance Industries to acquire 33% stake in Brookfield-Digital Realty data centre venture
Reliance Industries Limited (RIL) today announced entering into an agreement to invest alongside Brookfield Infrastructure and Digital Realty in their Indian SPVs set up for developing data centers in India. RIL will hold 33.33% stake in each of the Indian SPVs and become an equal partner. Digital Realty Trust, Inc.
(Digital Realty) is the largest provider of cloud and carrier-neutral data center, colocation and interconnection solutions globally with 300+ data centers across 27 countries. They have a joint venture with Brookfield Infrastructure that is developing high-quality, highly-connected, scalable data centers to meet the critical infrastructure needs of enterprises and digital services companies in India. RIL will become an equal partner in the JV.
The JV will be branded as ‘Digital Connexion: A Brookfield, Jio and Digital Realty Company’. The JV is currently developing data centers in marquee locations of Chennai and Mumbai. The JV’s first 20 megawatt (MW) greenfield data center (MAA10), on a 100 MW campus in Chennai, is expected to be completed by the end of 2023.
The JV recently announced the acquisition of 2.15 acres of land in Mumbai, to build a 40 MW data center. Given the location of these sites, the data centers will be connected to critical terrestrial connectivity infrastructure, as well as undersea cables, and will become hubs for global connectivity for Indian companies and gateways into India for multi-national companies. Data center capacity in India is expected to increase multi-fold over the next few years.
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