Blackstone, Panchshil to Build India’s Largest Data Centre with ₹20,000 Crore Investment
Blackstone Group and Panchshil Realty are set to develop India’s largest hyperscale data centre in Navi Mumbai, with an investment exceeding ₹20,000 crore. The 500 MW facility will span 14 buildings across 3 million sq ft and will operate on up to 65% renewable energy, making it the first of its kind in India. The project marks the first major Foreign Direct Investment (FDI) since Blackstone’s recent agreement with the Maharashtra government at Davos. The US-based asset manager signed three agreements at the event as part of its strategy to expand in India’s digital and property infrastructure sectors. To initiate development, Panchshil Realty’s subsidiary, Gramercy Info Park, has acquired nearly 50 acres of land adjacent to Reliance Corporate Park in Navi Mumbai’s Ghansoli area for Rs 900 crore, covering all related levies and charges. “The proposed data center will be a built-to-suit facility catering to hyperscalers specialising in cloud computing, artificial intelligence, and high-performance computing infrastructure,” said a person familiar with the development to ET. Blackstone is already constructing two data centres in Navi Mumbai under Lumina CloudInfra, with a combined investment of over $600 million and a total capacity of 60 MW. The new project will significantly expand Blackstone’s footprint in India’s data center industry. With over $50 billion in assets under management in India, Blackstone has been one of the country’s largest investors. Nearly 40% of these funds have been directed towards Maharashtra, with significant investments across Bengaluru, Hyderabad, Pune, NCR, Chennai, and Kolkata. The firm also dominates India’s office real estate market, holding 135 million sq ft across 50 properties. Having completed and exited two office REITs in India, Blackstone is currently preparing to file for its third office REIT in the country.
The 500 MW facility will span 14 buildings across 3 million sq ft and will operate on up to 65% renewable energy, making it the first of its kind in India.
The 500 MW facility will span 14 buildings across 3 million sq ft and will operate on up to 65% renewable energy.
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["AI", "artificial intelligence", "cloud computing", "R", "Go", "Git", "programming_languages:R", "programming_languages:Go"]
Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.