August 31, 2023 - Sovereign wealth fund Indonesia Investment Authority (INA) has partnered with GDS Holdings to improve the archipelago’s data center industry.
The joint venture will include the development of a hyperscale data center campus in Nongsa Digital Park on the island of Batam, according to a statement.
“By embracing GDS’s advanced smart data center solution and placing a strong emphasis on utilizing local renewable energy sources, the upcoming Batam data center campus has the potential to set an industry benchmark for the region,” the statement added.
Indonesia’s data center market capacity is set to increase from 514 megawatts this year to 1.41 gigawatts in 2029, INA said, citing market research.
Founded in 2001, GDS has been listed on the New York Stock Exchange since its initial public offering in 2016 and on the Hong Kong Stock Exchange since 2020.
Previously, GDS also announced plans to develop a similar data center campus in the Nusajaya Tech Park in Johor, Malaysia. The initial phase of this development will be completed in early 2024.
Last year, the firm reportedly considered another listing in Singapore, where it aims to build its data hub in Southeast Asia.
GDS, which raised US$580 million by selling senior notes early this year, has also planned to explore the sale of a minority stake in its international business for up to US$400 million.
