Asia Pacific Data Centre Update

APAC PRIMARY MARKET - RANK #6

KEY INDICATORS*

11 OPERATORS, 30 DATA CENTRES

380MW IN OPERATION

595MW UC / PLANNED

16% VACANCY RATE

* Definition: Key indicators are based on operational Hyperscale Cloud, Colo, Edge & Telco data centre facilities in the market and excludes Captive & ICT.

Colo Hyperscale Cloud Telco

MARKET OVERVIEW

Mumbai, the financial capital of India, is also the largest data centre market in the country. The city accounts for almost 50% of the operational as well as under construction supply in the country. As of Q4 2022, Mumbai has recorded an under-construction pipeline of 565MW which is one of the highest in APAC. Therefore, Mumbai likely to retain almost 50% of India's market share, even in five or more years. The Thane-Belapur Road is the largest cluster in Mumbai currently and accounts for about 53% of the operational data centre inventory. The cluster also accounts for 94% of the under-construction supply amounting to 523MW. Until 2020, there were only three international colocation players with operational data centres in Mumbai. However, currently there are six international operators who have commenced construction of their first data centres adding 196MW in Mumbai. In addition, four international operators have land banks that can potentially add 180 MW of new supply in the city. Moreover, being the largest landing site in India with 12 live and six under construction undersea cables, Mumbai continues to attract interests of local and international operators to setup their data centres in Mumbai. In addition, one of the largest hyperscale cloud operator announced its first self-built region in Mumbai. This will be the first self-built region in Mumbai for any CSP. Considering the increase in demand for data centres in Mumbai, the Maharashtra state government, in October, announced that it is working on drafting a state specific Data Centre policy. The draft policy is expected to be released before the end of the year. Sustainable and Green energy, taxation, power requirements, etc., are some of the key areas that the policy is expected to address. The India-Asia-Xpress (IAX) and India-Europe-Xpress (IEX) undersea cables received environmental approvals to commence laying. The IAX will connect Mumbai with Singapore and have 12 cable landings across five nations, with branches in Sri Lanka, Thailand, and Malaysia. The IEX connects Mumbai to Milan with landing in Italy and branches in the Middle East, North Africa, and the Mediterranean. When completed, this will be the largest submarine cable network in the world. The cables are expected to be operational in 2023 and 2024, respectively.

ECOSYSTEM DEVELOPMENTS • AdaniConneX is building a 100 MW Data centre in Mumbai within the Thane-Belapur Cluster. The overall development potential of the campus is expected to be about 250MW. The firm also has plans to build 1,000MW data centres cumulatively across Mumbai, Chennai, Hyderabad, Delhi, Bengaluru and Pune over a 10-year period. • Global asset manager Blackstone Group , through their new wholly owned data centre platform, Lumina CloudInfra are planning two large data centres in India in Mumbai and Chennai with a total capacity of 600MW. Blackstone is in advanced stages of acquiring two data centres in Navi Mumbai in Airoli and Mahape. • One of the largest American CSP has leased 5.5 acres of industrial land from Larsen & Toubro in the Powai cluster in Mumbai, under a 21.5-year lease agreement to build a data centre. • Equinix has acquired a 4-acre land adjacent to its first two facilities in Mumbai. With an initial development cost of US$86M, this will be its third data centre in the city. This facility is expected to be ready for service by 2024. • NTT brought online the first phase of the 30MW data centre in Mahape, Navi Mumbai. The 9-storey structure will eventually be joined by up to three more buildings to total 150MW in capacity. • Prince Digital Group (PDG) launched its 48MW, IGBC Platinum certified data centre in Airoli, Navi Mumbai. The campus has 120MW of expansion capacity. The campus utilizes 40% of its power from renewable sources. • Deputy Chief of Maharashtra, Devendra Fadnavis has announced plans for a third Mumbai city close to the Navi Mumbai airport. The city will emerge as the largest data centre cluster in India and serve as a hub for the nation’s Digital Economy and Industry 4.0. The statement came after the Maharashtra government announced plans to release a new policy for governing the information technology sector under which data centres currently operate.