STACK Infrastructure and real estate company, ESR Group, has announced a joint venture to develop a 48 MW data centre site in Incheon, South Korea.
Power supply to the facility has been secured from Korea Electric Power Corporation (KEPCO) and construction of the single building will commence in the first quarter of 2023 for delivery of ready-for-service capacity in the fourth quarter of 2024.
The facility will be operated under the STACK brand, the two companies said in a statement.
Launched in 2019, STACK is a data centre company sponsored by investment company IPI Partners, while ESR operates as an integrated logistics real estate platform in the Asia Pacific and has a presence in China, Japan, South Korea, Australia, Singapore, India, New Zealand, and other countries.
STACK’s CEO, Pithambar Gona said the proposed data centre in Incheon was “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 the facility incorporating the latest environmentally friendly design supporting industry-leading PUE (power usage effectiveness) and building standards, Gona said.
This data centre will enable hyperscalers and enterprise clients to address their evolving requirements in Korea and the APAC region more broadly, he added.
“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 centre markets,” Gona said.
STACK earlier established its regional headquarters in Singapore and in January it inked a deal to set up a 36MW campus in Inzai, Japan.
In June it announced its expansion into the Australian market with 124MW of data centre capacity spread over Melbourne, Canberra, and Perth.
ESR Data Centres CEO, Diarmid Massey, said the strategic nature of ESR’s partnership with STACK and ESR’s “previously announced data centre land acquisitions in Japan and Hong Kong, as well as the recent first closing of ESR DC Fund 1, a maiden fund with over US$1 billion (S$1.4 billion) of equity commitments”, continues to demonstrate ESR’s commitment to new economy investment and the “development of a range of environmentally friendly and industry-leading data centre solutions regionally”.
Massey added that his company’s “strong regional capability and experience in Tier 1 data centre markets ensures we are well-positioned to help develop facilities across critical hyperscale locations”.
