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Equinix and PGIM Real Estate open data centre in Sydney

By Catherine Knowles
Tue 14 Jun 2022

Equinix and PGIM Real Estate, the real estate investment and financing arm of PGIM, have announced the opening of the first xScale data centre in Sydney, named SY9x.

This milestone follows the closing of the US$575 million joint venture between the parties in March 2022.

Australia’s cloud computing market is expected to grow by 12.5% to reach US$14.1 billion in 2025, supported by large scale digital transformation initiatives across both the public and private sectors.

In addition, according to the Global Interconnection Index Volume 5 (GXI Vol. 5), a market study announced by Equinix, Sydney is forecast to have an estimated 43% compound annual growth rate (CAGR) for enterprise private interconnection to the cloud and IT providers between 2020-2024, which is one of the highest in the Asia-Pacific region.

As the first of the two data centres to be developed and operated under the joint venture with PGIM Real Estate, SY9x currently provides more than 14 MW of power capacity and will provide more than 28 MW when fully built out to meet the demand for cloud-based platforms and services among businesses in Australia, the companies state.

Commenting on the opening of SY9x, NSW Minister for Enterprise, Investment and Trade, Minister for Tourism and Sport, and Minister for Western Sydney Stuart Ayres, commented, “Western Sydney is a fast-growing region of great opportunity and potential, offering a diverse and dynamic economic centre.

"This first hyperscale data centre under the US$575 million joint venture by Equinix and PGIM Real Estate provides essential digital infrastructure to the world’s largest cloud service providers and helps create jobs in our local communities.

"With unprecedented levels of cloud adoption further accelerating digital transformation across Australia, the decision to locate its first xScale data centre in Western Sydney illustrates the enormous enthusiasm from multinational companies to invest in our growing city.”

According to the companies, by deploying at Equinix xScale data centres, hyperscale companies can add core deployments to their existing access point footprints at Equinix International Business ExchangeTM (IBX) data centres, enabling their growth on a single platform that can immediately span 70 global metros and offer direct interconnection to an ecosystem of more than 10,000 customers.

The SY9x data centre is located in Rosehill, adjacent to the Western Sydney CBD of Parramatta.

The second xScale facility, to be named SY10x, will provide more than 28 MW of power capacity when built. At full build, the two xScale facilities will offer a combined power capacity of more than 55 MW.

In Australia, Equinix, together with HSBC Bank, Nike Australia, Goldman Sachs and Hennes & Mauritz (H&M), has received approval from the Australian Competition and Consumer Commission (ACCC) for joint renewable energy purchasing. PGIM Real Estate owns 80% equity interest in the joint venture, with Equinix owning the remaining 20%. Equinix will be responsible for the operation of the hyperscale data centres.

Morgan Laughlin, global head of data centre investments, PGIM Real Estate, says, “Since 2013, PGIM Real Estate has been investing in the vibrant and growing data centre sector and we are now delighted to be opening our first hyperscale data centre in Australia in partnership with Equinix.

"PGIM Real Estate is projecting to continue expanding its investments in the global digital infrastructure sector, and we view our co-investment relationship with Equinix as an extremely important component of that strategic effort. In line with PGIM Real Estate’s strong commitment to sustainable building practices and reducing global carbon emissions, we are seeking opportunities to both use renewable energy at our assets whilst also to grow our investments in the renewable energy sector in tandem with the expanding focus on data centres."

Guy Danskine, managing director for Equinix Australia says, “To address the increasing demand for cloud and digital infrastructure, the opening of our first xScale data centre in Australia in tandem with the continued expansion of our International Business Exchange data centre capacity across the country ensure more and more organisations can implement their digital-first strategies.

"This infrastructure enables our customers to scale their operations, deliver exceptional customer experiences and unlock the value of artificial intelligence, machine learning, 5G and other emerging technologies.”

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