Data center developer and service provider Yondr Group has just announced the formation of a new joint venture partnership with Everstone Group to develop and operate data centers in India.

Operating under the brand name EverYondr, the new joint venture is formed with an initial capitalization of $1 Billion (USD) which will be used to fund the development and operation of hyperscale data center facilities and businesses across different geographies in India, including but not restricted to the metros of Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and National Capital Region (Delhi).

“To meet the accelerated pace of cloud adoption, hyperscale companies are increasingly looking to credible partners to help realise their expansion needs. Yondr’s global experience combined with Everstone’s strong execution capabilities in India, will provide clients with a credible and consistent choice,” said Sameer Sain, Co-Founder & Chief Executive Officer of Everstone Group.

Already, the joint venture has acquired land and power for the development of its first facility located in the Mumbai Metropolitan Region, which is expected to deliver 30MW by 2023 and 60MW of IT capacity when fully developed.

Everstone is a Singapore headquartered private investment firm with portfolios across private equity, real estate, green infrastructure, credit and venture capital. Its real estate arm in India is known as Indospace, a real estate developer in India with over 47 million square feet under development.

“EverYondr’s early acquisition of its first campus in the Mumbai Metropolitan Region reinforces our commitment to the region. Unlike other mature hyperscale markets, data centers in India require a proactive approach to development and a streamlined delivery process,” said Dave Newitt, CEO at Yondr Group.

“As a business, our mission is to help clients meet their data center capacity and technical real estate needs, faster and with better performance outcomes than anyone else. Collaborating with a specialised and trusted partner like Everstone will enable us to continue to deliver on that promise in the Indian market that is critically under-served today.”

This announcement is coming in less than 3 months after Yondr Group announced a plan to invest up to $2 billion in the expansion of data center infrastructures across the United States, Canada, Central and South America.