Equinix has announced the signing of an agreement to form a US$525 million joint venture with GIC, Singapore’s sovereign wealth fund, to develop and operate two xScale data centers in Seoul, Korea.
This new joint venture, in the form of a limited liability partnership, will bring the global xScale data center portfolio to more than US$8billion across 36 facilities, and an expected greater than 720 megawatts of power capacity when completed and fully constructed.
Charles Meyers, President and CEO, Equinix, said: “More and more organizations are embracing a digital-first strategy to scale their operations, enhance the experiences of their customers, and unlock the value of technologies like 5G, IoT, AI and Machine Learning.
“Korea and the broader Asia-Pacific market are both enablers and beneficiaries as organizations prioritize Digital Transformation. To address demand for cloud and digital infrastructure, we have continued to invest in the region through the expansion of International Business Exchange (IBX) capacity and locations, as well as the expansion of our hyperscale program, xScale, in Australia and now Korea.”
The two facilities under this joint venture, to be named SL2x and SL3x, are expected to provide more than 45 megawatts of power capacity to serve the unique core workload deployment needs of hyperscale companies, including the world’s largest cloud service providers.
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