Joint Venture Between Reliance and Brookfield to Open a Data Center Facility in Chennai

Reliance Industries Chairman Mukesh Ambani announced that the joint venture between Reliance and Canada-based Brookfield Asset Management will open a data center facility in Chennai next week. In July 2023, Reliance invested approximately USD 46 million in a joint venture between Brookfield Infrastructure and the US-based ReIt (real estate investment trust) Digital Realty.

The joint venture is set to launch the operations of a 20 MW greenfield data center in Chennai next week. The group has already acquired 2.15 acres of land to construct a 40-MW data center facility in Mumbai.

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Speaking at the Tamil Nadu Global Investors Meet in Chennai, Mukesh Ambani also mentioned that the group is investing in renewable energy and green hydrogen projects in Chennai.
 

Reliance's foray into the data center market will compete with Adani Group's joint venture, AdaniConnex.  Recently, the joint venture is already seeking a loan of USD 400 million to fund its projects this year. AdaniConnex is already in the process of constructing a data center facility in Chennai and Noida.
 

Companies such as Google, Microsoft, and Amazon have already initiated the construction of hyperscale data centers in India, where data centers have become one of the most attractive growth opportunities for international investors and leading developers.

According to a report by Avendus Capital, India's data center market is expected to grow by 40%, drawing an investment of about USD 5 billion.

Details About Reliance, Brookfield, and Digital Realty Joint Venture 

The Reliance Brookfield and Digital Realty joint venture, now known as Digital Connexion: A Brookfield, Jio, and Digital Realty Company, is a major player in the data center market in India. 

Initially, it was a 50:50 partnership between Digital Realty and Brookfield Infrastructure in July 2021. Reliance Industries Limited joined the venture in July 2023, making it a three-way partnership. Each company holds a 33% stake in the venture.

The joint venture aims to capitalize on the rapidly growing Indian data center market. Digitization, cloud adoption, and rising internet penetration are driving forces in the Indian market.

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