Equinix Inc., a leading digital infrastructure developer, announced Tuesday the launch of a $15 billion joint venture (JV) with GIC and the Canada Pension Plan Investment Board (CPP Investments) to develop data centers. The deal will allow Equinix to significantly expand its U.S. data center footprint as demand for digital infrastructure continues to rise.
Expanding U.S. Data Center Capacity
The California-based real estate investment trust plans to leverage the funds from the joint venture to acquire land and develop data centers with a capacity of more than 100 megawatts on new campuses. Equinix’s goal is to add over 1.5 gigawatts of new capacity across these data centers, ensuring the company can meet the growing demand for digital services and cloud infrastructure.
In its announcement, Equinix emphasized the substantial scale of its existing data center portfolio. The company has already invested more than $8 billion in joint ventures across the Americas, Europe, and the Asia-Pacific region, which have the capacity to develop 725 megawatts of power across 35 facilities.
Equinix Forms $15B JV : JV Structure and Future Plans
Under the terms of the new $15 billion JV, GIC and CPP Investments will each hold a 37.5% stake, while Equinix will retain a 25% ownership interest. The partnership is expected to close in the fourth quarter of 2024, subject to regulatory approvals.
