PLANS TO INVEST 400 MILLION USD
Asian green data center developer, Empyrion DC, has just announced the development of a new 40MW data center in Gangnam, Seoul, South Korea.
With plans to invest up to US$400 million in the new Seoul green data center project, Empyrion has partnered with architects and engineers to enable the facility to utilize high efficiency Building Integrated Photovoltaic Panels (BIPV) on the facade of the 10-storey data center.
Empyrion DC is a portfolio company fully owned by funds managed by Seraya Partners, and for this project, Empyrion DC has signed a binding agreement with a local promoter to acquire 100% of the development rights. The agreement is expected to close before the end of September 2022, subject to satisfaction of customary closing conditions.
“Leveraging our deep local networks in Seoul, we sourced this exclusive transaction that wasn’t available in the market. As Seoul is running out of data centre supply, and as we plan to achieve ‘ready-for-service’ status in 2024, we already have customers requesting to lease entire floors,” said James Chern, Chairman and Managing Partner of Seraya Partners.
According to the company, the project is shovel-ready and the team expects to commence construction before year end 2022.
Upon completion, the new Gangnam facility will be Empyrion’s second data center investment which include SG1 Dodid data center in Singapore, with a pipeline of over 200MW of projects across Asia.
Adding to Seoul’s data center expansion, ST Telemedia Global Data Centres (STT GDC), also recently announced it plans to develop a new data site in Gasan-dong, Seoul, South Korea. The new STT GDC site will comprise 31,205 square meters of gross floor area, expected to deliver up to 30MW of IT power upon full development.
Also in South Korea, Digital Edge recently announced that it plans to significantly expand its data center operations in the country with the development of a new mega-facility in Bupyeong-gu, Incheon. Through a joint venture agreement with SK Ecoplant, a local data center developer, the new data center will be developed to deliver a total IT power of 120MW with a capital investment of over 1 trillion KWR (approximately 1 billion USD).