Equinix has formed a new joint venture to develop hyperscale data centers in Sydney, Australia. The company is forming a $575 million joint venture with PGIM Real Estate, the real estate investment and financing arm of Prudential Financial’s global asset management business, to expand its xScale hyperscale platform into the country. The facilities in the joint venture, known as SY9x and SY10x, are expected to provide more than 55MW of power capacity. The first of the two, SY9x, is expected to open in Q1 2022. Equinix first partnered with Singapore’s GIC sovereign wealth fund in October 2019 to develop hyperscale facilities under the xScale label. The two companies currently have around 10 in development or operation and are aiming to open 32 facilities across Europe, Asia, and Latin America over the next few years.
Equinix’s first hyperscale JV beyond GIC and will take the xScale portfolio to more than $7.5 billion of investment across 34 facilities, and an expected greater than 675MW of power capacity when completed and fully constructed. Equinix is the world’s digital infrastructure company. We interconnect industry-leading organizations in finance, manufacturing, mobility, transportation, government, healthcare, and education across a cloud-first world. Founded in Silicon Valley in 1998 as a vendor-neutral multitenant data center provider where competing networks could securely connect and share data traffic, we chose a name that reflected our company’s focus on EQUality, Neutrality, and Internet eXchange—Equinix. And we began building the global platform our customers would need to make digital business happen: Platform Equinix®.