Canada Pension Plan Investment Board (CPP Investments) has committed to invest up to INR70bn (€640m) in Indian data centres through a partnership with local operator CtrlS Datacenters.
CPP Investments is acquiring an 8.2% stake in CtrlS for INR40bn and has committed up to INR30bn to a hyperscale data centre development joint venture. The Canadian fund will hold a 48% stake in the new venture, with CtrlS owning 52%.
Sridhar Pinnapureddy, founder and CEO of CtrlS, said: “India’s AI moment is not on the horizon, it is already here. The demand signals from hyperscalers, cloud providers and enterprises are clear and unmistakable. Over the years, CtrlS has focused on reliability, sustainability, and long-term growth.
“Our partnership with CPP Investments reinforces these values. Together, we are not merely expanding capacity but also establishing the benchmark for AI-ready infrastructure in one of the world’s most significant digital markets.”
CPP Investments has been an active investor in the data-centre sector globally since making its first direct investment in 2017 and made its first investment in India in 2009.
Max Biagosch, senior managing director and global head of real assets at CPP Investments, said: “As one of the world’s fastest growing digital markets, India represents an important pillar of our global data centre strategy.
“Demand for data centre infrastructure in India continues to accelerate, driven by hyperscale expansion, strong domestic cloud growth and emerging AI-led demand. This partnership with CtrlS positions us to scale high‑quality infrastructure and deliver long‑term value for CPP contributors and beneficiaries.”
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