Keppel Data Centre Fund II (KDCF II) has formed a partnership with a Chinese group to build a RMB1.4bn (€205m) data centre in Greater Beijing.
The fund, managed by Alpha Capital Partners, a subsidiary of Keppel Corp, will jointly develop the greenfield data centre with Heying, a subsidiary of Tianjin Zhengxin.
Under the partnership agreement, the Singapore-based fund will also acquire a majority stake in Huailai Data Centre.
“We will continue to add more quality assets in key global markets to the fund’s portfolio that will deliver optimal risk-adjusted returns to our investors,” Alvin Mah, CEO of Alpha, said.
Wong Wai Meng, CEO of Keppel Data Centres, said: “Keppel Data Centres’ strategy to work with strong experienced partners and in collaboration with Keppel Capital, enables us to harness synergies and scale up swiftly in developing and operating high-quality data centres in our key growth markets.“
This latest development marks Keppel’s sixth project since entering Mainland China’s data-centre market in 2020 and increases its total exposure to 140MW power capacity.
Separately, Keppel also expects its Greater Shanghai Data Centre under KDCF II to be ready for service by the first quarter of 2023.
To read the latest edition of the latest IPE Real Assets magazine click here.
