Global technology leader Equinix (Nasdaq: EQIX) announced today its intention to extend its partnership with Singapore’s sovereign wealth fund GIC, bringing its xScaleTM data center portfolio to more than $69 billion across 32 facilities globally upon completion.
By providing hyperscale companies, including the biggest cloud service providers, with a platform of more than 220 International Business ExchangeTM (IBX®) data centers, Equinix adds to its global platform of more than 200 data centers.
xScale will operate data centers in three regions after the deal is closed and built out include Dbulin, Frankfurt, Helsinki, London, Madrid, Milan, Paris adn Warsaw in Europe. Ocala and Tokoyo in Asia-Pacific and Maxico and Sao Paulo in America and the announcement of three more sites is expected in the near future.
When all 32 xScale facilities are fully built out, they will have a combined capacity of more than 600 megawatts (MW).
Upon the agreement’s completion, the joint ventures will be owned by GIC to the tune of 80% equity interest and Equinix to the tune of 20% equity interest.
Regulatory approvals and other conditions are expected to slow the closing process for the JV projects in today’s announcement over the course of 2021.