STACK Infrastructure, the digital infrastructure partner to the world’s most innovative companies and a global developer and operator of data centers, and ESR Group Limited, APAC’s largest real asset manager powered by the New Economy, has announced a joint venture to develop a 48MW data center site in Incheon, Korea.
STACK and ESR will jointly develop and deliver a 48MW facility in Incheon in Seoul’s western suburbs. Power to the facility has been secured from KEPCO and construction of the single building will commence in Q1 2023 for delivery of ready for service capacity in Q4 2024. The facility will be operated under the STACK brand.
The development is strategically located with robust access to power and network, offering scalability and reliability for higher rack densities and floor loading specifications. The partners will develop a facility incorporating the latest environmentally friendly design supporting industry-leading PUE and building standards. This data center will enable hyperscalers and enterprise clients to address their evolving requirements in Korea and the APAC region more broadly.
“STACK’s opening of a fifth APAC market in 12 months, expanding on our recent developments in Melbourne, Canberra, Perth and Tokyo, enhances our focus on our customers’ strategic requirements by establishing a scalable presence in existing and emerging Tier 1 data center markets,” said Pithambar (Preet) Gona, STACK’s Chief Executive Officer – APAC. “We are excited about our partnership with ESR, which illustrates our ability to work with market leading real asset managers, leveraging our combined expertise to the benefit of our customers.”
“ESR’s strong regional capability and experience in Tier 1 data center markets ensures we are well-positioned to help develop facilities across critical hyperscale locations,” said Diarmid Massey, CEO of ESR Data Centres. “Partnering with STACK enables us to leverage an outstanding global operating platform and innovative capital solutions to target hyperscale customer growth in key markets.”
This milestone follows the recent announcements of STACK’s entrance to the APAC market with the opening of its Singapore regional headquarters, its first 36MW campus in Inzai, Japan and expansion into the Australia market with 124MW in Melbourne, Canberra, and Perth.
The strategic nature of ESR’s partnership with STACK and ESR’s previously announced data center land acquisitions in Japan and Hong Kong, as well as the recent first closing of ESR DC Fund 1, a maiden fund with over $1 billion of equity commitments, continue to demonstrate ESR’s commitment to new economy investment and the development of a range of environmentally friendly and industry leading data center solutions regionally.
