Digital Realty (NYSE: DLR), the largest global provider of cloud-
and carrier-neutral data center, colocation and interconnection
solutions, and Brookfield Infrastructure Partners L.P. (TSX:
BIP.UN; NYSE: BIP) and its institutional partners (“Brookfield
Infrastructure”) announced today an agreement to establish a 50/50
joint venture focused on the development, ownership and operation
of institutional quality data centers in India. The joint venture
will operate under the brand name BAM Digital Realty.
With a population of over 1.4 billion, the world’s fifth-largest
economy in terms of GDP and an expanding focus on the digital
delivery of services, India represents a key market opportunity to
extend coverage, capacity and connectivity options for the world’s
leading service providers as well as local and global enterprise
customers. India is a high-growth market, with data center demand
expected to significantly increase, driven by rapidly growing data
consumption, digitization of the economy, the onset of 5G and data
localization trends.
The joint venture is positioned to enable the significant
expansion of PlatformDIGITAL®, Digital Realty’s premier global data
center platform which supports the evolving data, control and
networking demands of global enterprises. Its deployment across
India is expected to enable customers to rapidly scale digital
transformation by deploying critical infrastructure with a leading
global data center provider at the heart of a growing connected
data community in India. Data centers developed in India will
leverage Digital Realty’s industry-leading energy-efficient data
center design and operating procedures and highly repeatable
Pervasive Data Center Architecture (PDx™) approach for the new
digital workplace.
“India is a rapidly emerging data center market and offers a
bright future, with accelerating adoption of digital business
models among a population that recognizes the role of technology
for future economic development,” said Digital Realty Chief
Executive Officer A. William Stein. “Our existing partnership with
Brookfield, our Ascenty platform across Latin America, has already
delivered long-term value to our customers, with over 250 megawatts
of IT load capacity in Brazil, Chile and Mexico either fully built
out or currently under construction. We look forward to building
upon our successful partnership with Brookfield by entering the
Indian data center market together and extending opportunities for
digital transformation with the global consistency of
PlatformDIGITAL®.”
The joint venture will expand Brookfield Infrastructure’s
significant global data infrastructure portfolio, which currently
includes $23 billion in assets across data transmission,
distribution, and storage, including a portfolio of 139,000
operational telecom wireless towers in India, which it intends to
expand to 175,000 over the near term. Brookfield has over a decade
of experience investing in India, with approximately $20 billion of
assets under management including infrastructure, renewable power,
real estate, and private equity.
“We are pleased to further expand both our partnership with
Digital Realty and our presence in India through this joint
venture,” said Arpit Agrawal, Managing Director and Head of India
& Middle East, Brookfield Infrastructure. “Through the
development of a high-quality, multi-city, India-focused data
center platform, we believe BAM Digital Realty is well positioned
to play a meaningful role in addressing the large and growing data
demand in the country and to offer a differentiated solution to
customers.”
BAM Digital Realty intends to acquire land parcels in multiple
Indian metros for the development of data center campuses to
support the needs of global hyperscale service providers as well as
international and local enterprises. The joint venture expects to
design, build and operate sustainable facilities, drawing upon the
firms’ broader commitments to sustainable operations, including
carbon reduction initiatives.
“Today’s collaboration marks the beginning of a new chapter for
Digital Realty’s operations, customers and partners in Asia
Pacific. India is on the cusp of rapid digitization of services to
support the country’s economic growth,” said Mark Smith, Managing
Director, APAC for Digital Realty. “PlatformDIGITAL® will offer our
new and existing customers a consistent deployment model for
extending their operations into India, providing fit-for-purpose
infrastructure that will enable them to scale their digital
business into one of the fastest-growing data markets in the
world.”
The closing of the joint venture is subject to customary closing
conditions and regulatory approvals and is expected to occur in the
second half of 2021.
Additional Resources
- Digital Realty and Brookfield close Ascenty Joint Venture in
Latin America
- Explore global deployment opportunities on
PlatformDIGITAL®
- Visit the Data Gravity Insights Hub to learn more about data
gravity and see growth forecasts in the Data Gravity Index
DGx™
- Read about our open interconnection manifesto for enabling
connected data communities
About Digital RealtyDigital Realty supports the
world’s leading enterprises and service providers by delivering the
full spectrum of data center, colocation and interconnection
solutions. PlatformDIGITAL®, the company’s global data center
platform, provides customers a trusted foundation and proven
Pervasive Datacenter Architecture (PDx™) solution methodology for
scaling digital business and efficiently managing data gravity
challenges. Digital Realty’s global data center footprint gives
customers access to the connected communities that matter to them
with 290 facilities in 47 metros across 24 countries on six
continents. To learn more about Digital Realty, please visit
digitalrealty.com or follow us on LinkedIn and Twitter.
About Brookfield InfrastructureBrookfield
Infrastructure is a leading global infrastructure company that owns
and operates high-quality, long-life assets in the utilities,
transport, midstream and data sectors across North and South
America, Asia Pacific and Europe. We are focused on assets that
have contracted and regulated revenues that generate predictable
and stable cash flows. Investors can access its portfolio either
through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX:
BIP.UN), a Bermuda-based limited partnership, or Brookfield
Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian
corporation. Further information is available at
www.brookfield.com/infrastructure.
Brookfield Infrastructure is the flagship listed infrastructure
company of Brookfield Asset Management, a global alternative asset
manager with over $600 billion of assets under management. For more
information, go to www.brookfield.com.
Media |
Investors |
Marc Musgrove |
John Stewart / Jim Huseby |
Digital Realty |
Digital Realty |
+1 (415) 508-2812 |
+1 (415) 738-6500 |
mmusgrove@digitalrealty.com |
investorrelations@digitalrealty.com |
|
|
Claire Holland |
Kate White |
+1 (416) 369-8236 |
+1 (416) 956-5183 |
claire.holland@brookfield.com |
kate.white@brookfield.com |
|
|
Shveta Singh |
|
+91 9004287034 (Mumbai) |
|
shveta.singh@brookfield.com |
|
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Safe Harbor StatementThis press release
contains forward-looking statements which are based on current
expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially, including statements related to our joint
venture with Brookfield, the Indian market opportunity, our
expectations regarding the joint venture’s development plans and
operations in India, our expectations regarding IT load capacity of
the operations of our Ascenty joint venture, our sustainability
programs and goals, and deployment and benefits of PlatformDIGITAL.
Our forward-looking statements are generally identified with words
such as “will,” “believe,” “expect,” “intend” and similar
expressions. Risks, uncertainties and assumptions that could affect
our forward-looking statements include, among other things, our
ability to consummate the joint venture (including our ability to
obtain the requisite antitrust approvals), and to realize the
benefits of the proposed joint venture. For a list and description
of other risks and uncertainties, see the reports and other filings
by the company with the U.S. Securities and Exchange Commission.
The company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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