INVESTS US$162 MILLION IN PHASE 1
Ascendas Property Fund Trustee Pte. Ltd., the Trustee-Manger of Ascendas India Trust, has today announced it plans to build a 90MW data center campus in India.
The facility will be Ascendas’ first data center in India, and the firm plans to invest an estimated INR 12 billion (US$162 million) to develop and operate phase one of the facility which will deliver an area of about 325,000 square feet.
With plans to complete the acquisition of a 6.6-acre greenfield site by the third quarter of 2021, the company intends to develop the facility in phases into a fully-fitted data center campus with a total potential built-up area of up to 575,000 square feet and 90MW of power, targeting customers such as global technology giants and cloud service providers, as well as large domestic enterprises.
“Developing our first data center campus with support from our sponsor, CapitaLand, will allow us to leverage the CapitaLand Group’s data center expertise and gives us complete control over the design and quality of the data center,” said Mr Sanjeev Dasgupta, Chief Executive Officer of the Trustee-Manager of Ascendas India Trust.
“We look to improve our portfolio resilience through diversification into new economy asset classes such as data centers and life sciences. As we grow further, we will continue to be prudent in our capital management and nimble in seizing investment opportunities, to maximise unitholders’ returns.”
As announced, phase one of the data center is scheduled to be ready by the second quarter of 2024. Upon full build, the campus will have an overall capacity to host approximately 8,500 racks and operate at an efficient power usage effectiveness (PUE) of about 1.4.
Owned by CapitaLand, Ascendas plans to adopt sustainable design principles and green building standards for this project in line with CapitaLand’s 2030 Sustainability Master Plan. The facility is therefore expected to feature intelligent energy management systems, solar panels, and waterless cooling systems.