A $300 MILLION INVESTMENT PROJECT
Construction and engineering solutions provider Megawide, has just announced the signing of a Shareholders’ Agreement with Singapore-headquartered Evolution Data Centers (EDC) to build a new carrier-neutral data center facility in the Philippines.
With an estimated investment of about US$300 million, the new data center project is planned to feature a long-term development of a 69MW colocation data center, with Phase 1 covering a 23MW deployment spread over 5 years, and it’s to be sited on a 4-hectare IT space in Cavite.
“Megawide is very excited about this venture because it represents the company’s first investment in the digital infrastructure space. While we have focused on transport and social infrastructure in recent years, current technological advances have significantly changed everyday life. Digitalization has greatly affected enterprises and consumers alike and data centers are at the very core of this new reality,” said Jaime Feliciano, Chief Business Development Officer, Megawide.
Being its first investment in the digital infrastructure space, Megawide expects that the combination of EDC’s technical expertise in the data center industry, with Megawide’s design, engineering, and construction experience, will be a key advantage to ensuring the success of the partnership.
“Rising data consumption and strong governmental support for digital transformation are causing hyper-scalers and cloud service providers to consider the Philippines as they expand their operations. At EDC, we are passionate about building and operating hyper-scale, sustainable data centers, across Southeast Asia. We are delighted to be partnering with Megawide to develop this innovative data center in this exciting high-growth region,” said Darren Webb, Chief Executive Officer, EDC.
As announced, the transaction is subject to the approval of the Philippine Competition Commission, which is expected to be within the next 30-60 days, and completion of all closing conditions.
Recently, Digital Edge Ltd., also announced that its new 10MW data center in Manila codenamed NARRA1, will be ready for operation from 1st of March, 2023. As announced, the new data center is planned to be energy and water efficient with PUE (Power Usage Effectiveness) of < 1.2 and a WUE (Water Usage Effectiveness) of about 1.355 at optimal operating temperature.