SC Capital Partners to build US$500m data centre in South Korea

SC Capital Partners to build US$500m data centre in South Korea
SC Zeus

Through SC Zeus Data Centres joint venture.

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Singapore-based private equity real estate firm, SC Capital Partners (SCCP) has launched an Asia Pacific data centre builder, SC Zeus Data Centres, and will start operations with the development of a US$500 million hyperscale facility in South Korea.

The 45-megawatt data centre in Seoul is part of a planned pipeline of 250 MW of total IT load in the Asia Pacific region.

According to a posting by Allen & Gledhill, SC Zeus Data Centres is 60.3 percent owned by SC Capital Partners in a joint venture with Singapore-registered Abner Investments Pte Ltd.

The partnership will initially leverage SC Capital’s funds and may launch a separate data centre fund in the future.

The Seoul data centre will have a gross floor space of 45,000 square metres and will utilise SC Zeus’s “proprietary and patent-pending advanced design technology” that delivers a power usage effectiveness (PUE) of less than 1.2, the company said in a statement.

PUE is a ratio of how much energy is used by computing equipment compared to plant used to cool it. The lower the ratio, the more energy-efficient the facility is.

SC Zeus is committed to building the most energy-efficient data centres utilising sustainable energy to reduce carbon footprint, SC Zeus’ CEO Joe Gooi said.

Giving more details about the South Korean investment, Gooi, who was a former head of portfolio at Digital Realty said: “We are investing in this project to service the growing demand for data centre capacity on the back of a huge Internet market in South Korea, and we are already fielding expressions of interest from prospective tenants.”

According to the Korean Data Centre Council report, commercial data centres will grow at an annual average rate of 20.1 percent during the period 2020-2023 and would account for 758 MW of total IT power supply from 2020 to 2023.

Apart from the South Korean project, the company has plans to build data centres in Japan, Thailand, Singapore and Indonesia, according to information available on its website.

Cushman & Wakefield’s latest 2022 Data Centre Global Market report said the Asia Pacific market is set to become the world’s largest data centre region over the next decade.

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