Billionaire Mukesh Ambani has announced that his company Reliance Industries in partnership with Canada’s Brookfield will open a data centre in Chennai next week. Speaking at the Tamil Nadu Global Investors Meet here, Ambani, chairman and managing director of Reliance Industries Ltd, said his group is investing in renewable energy and green hydrogen as well as in setting up a data centre in the state.”Reliance has partnered with Canada’s Brookfield asset management and US-based Digital Reality to set up a state-of-the-art data centre, which will be opened next week,” he said.
The joint venture will start the 20-megawatt greenfield data centre in Chennai next week and has also acquired 2.15 acres of land in Mumbai to build another 40-MW data centre.
What makes the deal important
This marks Reliance Industry’s entry into the fast-growing market. In July 2023, Reliance invested about Rs 378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based real estate investment trust Digital Realty were already partners. The three companies now own 33 per cent each in the venture.
The Indian data centres market is heating up with Reliance’s entry to rival Gautam Adani’s Adani Group and Sunil Mittal‘s Bharti Airtel Ltd in recent months. AdaniConneX, a 50:50 joint venture between Adani Enterprises and EdgeConneX (ECX), has raised $213 million to finance its under-construction data center portfolio of 67 MW in Noida and Chennai. AdaniConneX is setting sights on becoming one of the three top data centre operators by 2030, while also looking to set up data-processing hubs in UAE, Singapore, Nepal and Thailand.
What makes data centres hot
This rising preference for India among global data centre majors is attributed to the Indian government’s data localisation norms. Also, with growing digitization and internet penetration in India coupled with the importance of smart technologies, IoT-powered devices, big data, and the rollout of 5G network is expected to boost the data center and related real estate market further in 2023.
Data centers in the country have already emerged as one of the most attractive growth opportunities for global investors and leading developers. Technology giants including Google, Microsoft and Amazon have already started setting up their hyperscale data centers in India. India’s data centres market is expected to grow 40% a year and draw $5 billion in investments by 2025 according to a report from investment bank Avendus Capital.
The joint venture will start the 20-megawatt greenfield data centre in Chennai next week and has also acquired 2.15 acres of land in Mumbai to build another 40-MW data centre.
What makes the deal important
This marks Reliance Industry’s entry into the fast-growing market. In July 2023, Reliance invested about Rs 378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based real estate investment trust Digital Realty were already partners. The three companies now own 33 per cent each in the venture.
The Indian data centres market is heating up with Reliance’s entry to rival Gautam Adani’s Adani Group and Sunil Mittal‘s Bharti Airtel Ltd in recent months. AdaniConneX, a 50:50 joint venture between Adani Enterprises and EdgeConneX (ECX), has raised $213 million to finance its under-construction data center portfolio of 67 MW in Noida and Chennai. AdaniConneX is setting sights on becoming one of the three top data centre operators by 2030, while also looking to set up data-processing hubs in UAE, Singapore, Nepal and Thailand.
What makes data centres hot
This rising preference for India among global data centre majors is attributed to the Indian government’s data localisation norms. Also, with growing digitization and internet penetration in India coupled with the importance of smart technologies, IoT-powered devices, big data, and the rollout of 5G network is expected to boost the data center and related real estate market further in 2023.
Data centers in the country have already emerged as one of the most attractive growth opportunities for global investors and leading developers. Technology giants including Google, Microsoft and Amazon have already started setting up their hyperscale data centers in India. India’s data centres market is expected to grow 40% a year and draw $5 billion in investments by 2025 according to a report from investment bank Avendus Capital.
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