The two companies announced plans this week to form additional joint ventures in the form of limited liability partnerships, with Singapore’s GIC increasing its previous investment by $3.9 billion.
The company currently operates or is developing ten hyperscale facilities: three in Japan, two in France, two in the United Kingdom, and one in Germany.
Equinix announced the opening of xScale data centers in Tokyo and Paris earlier this year, as well as detailed plans for five additional locations globally. GIC has previously financed a significant portion of Equinix’s previous xScale expansion, having invested $3 billion in joint ventures in Japan, Europe, and LATAM.
The new announcement brings GIC’s total investment to $6.9 billion across 32 facilities globally with a combined capacity of more than 600MW. The companies are planning three new hyperscale data centers in Dublin, Ireland; three additional data centers in Frankfurt, Germany; and single data centers in Helsinki, Finland; Milan, Spain; and Warsaw, Poland.
In APAC, the companies are expanding their hyperscale footprint by adding two new facilities in Tokyo and one in Osaka.
The companies are expanding their hyperscale data center footprint in Latin America by constructing two additional data centers in Sao Paulo, Brazil, and Mexico City, Mexico.
Three additional locations are expected to be announced in the near future.
“For years, Equinix has partnered with the world’s largest cloud service providers, including Alibaba Cloud, Amazon Web Services, Google Cloud, IBM Cloud, Microsoft Azure, and Oracle Cloud Infrastructure, to leverage Equinix’s global platform of over 220 data centers to connect directly to their strategic business partners and customers,” Equinix CEO Charles Meyers said. “Through our xScale programme, these hyperscalers can continue to grow at Equinix while remaining close to a 10,000-customer ecosystem.”
The newly announced JV projects are expected to close in stages throughout 2021, with GIC owning an estimated 80% equity stake in each joint venture.
“Through xScale’s joint venture structure, we are able to structure these large deployments in an off-balance sheet manner, preserving capital for investment in our traditional retail data center and digital infrastructure businesses while retaining our strategic and financial flexibility,” Meyers added.
Equinix announced that all xScale locations will be LEED certified (or regional equivalent certification).