Data Center Investment News — 21/03/2025
Goodman Group breaks ground on Los Angeles facility
Goodman Group has broken ground on a new data center in Los Angeles, California, called LAX01. The 5.6-acre facility, located in Vernon, will provide 32MW of IT capacity across three stories. The facility is expected to be powered shell-ready by mid-2026.
The facility is strategically located near Downtown Los Angeles and One Wilshire, offering ultra-low latency of 0.35ms RTT, a strong fiber ecosystem, and scalable solutions for hyperscale and colo customers. Also, The company plans to raise AU$4 billion (US$2.5bn) to fuel its data center build-out.
Mayor Judith Merlo said, “Vernon’s streamlined permitting process, combined with affordable and reliable power, provides the backbone for data center development. By attracting emerging technologies like data centers, we are strengthening our economy in a way that is forward-thinking.”
Swedish data center firm Evroc secures $55m funding from Blisce/, Giant, EQT
Swedish data center firm Evroc has secured €50.6 million ($55m) in Series A funding to accelerate its European build-out. The round was led by technology investment firm Blisce/, with participation from Giant Ventures, existing backers EQT Ventures, and Norrsken VC. Evroc plans to launch a data center in Mougins, France, and acquire land for an AI data center in Stockholm, Sweden. The company aims to develop sustainable hyperscale facilities across Europe and offer cloud services. By 2030, Evroc aims to operate 10 hyperscale data centers across Europe.
Blisce/ founder and CEO, Alexandre Mars, praised Evroc for challenging the status quo in the European cloud and AI landscape. Giant Ventures co-founder and managing partner, Cameron McLain, praised Evroc for providing European businesses with world-class cloud and AI services. Evroc’s first site, outside Stockholm in Arlandastad, Sweden, was announced in late 2023 and is expected to be operational by the latter half of 2026. Evroc plans to secure two additional 100MW+ sites in France over 2025.
Mattias Åström, founder & CEO of Evroc, said 2025 would be a formative year for the company, with support from existing investors EQT Ventures and Norrsken VC, along with new investors Blisce/ and Giant Ventures, essential to drive its European expansion.
NTT announces 500MW NAV2 data center in Navi Mumbai, India
NTT has announced plans for its NAV2 data center in Navi Mumbai, India, which will be its largest campus in the country. The 500MW facility will have 336MW of IT capacity across three data center facilities.
NTT already operates a data center campus in Navi Mumbai, NAV1, with the first facility NAV1A offering 30MW of IT power across 37,000 sqm (398,264 sq ft). Two more facilities with 30.4MW and 40MW capacity are expected to join soon. It has more than 18 data centers in operation or in development across India, totalling over 265MW across Delhi, Mumbai, Chennai, and Bengaluru.
Bridge Data Centres gets $2.8bn to fund APAC expansion
Bridge Data Centres (Bridge DC) has secured $2.8 billion in bank financing to support its expansion plans. The funding was secured by a consortium of international and cross-regional banks, underlining the company’s commitment to accelerate the development of hyperscale campuses in high-growth markets such as Malaysia, Thailand, and beyond.
Eric Fan, president of Bridge DC, said “This financing milestone underscores strong market confidence in Bridge Data Centre’s leadership, underpinned by record contracted capacity growth,”. “More than 11 lead banks have committed to the largest ever bank facility, reinforcing Bridge DC’s strong backing from diverse financial institutions.”
Bain Capital partner Drew Chen said “Bridge Data Centres has consistently demonstrated its ability to execute on its ambitious growth strategy, delivering world-class data center solutions that meet the rapidly evolving needs of hyperscalers driven by generative AI,”
Wingu.Africa breaks grounds on data center expansion in Dar es Salaam, Tanzania
Pan-African data center operator Wingu.Africa has started work on an expansion of its data center in Dar es Salaam, Tanzania. Wingu.Africa said the expansions will add “considerably more white space” to accommodate additional racks, pods, and cages.
Wingu.Africa’s co-founder and CEO, Anthony Voscarides, announced the expansion will take the facility to 3MW. The company is expected to invest $50 million in the project, with the first phase launched in 2022.
Voscarides added: “Our carrier-neutral facility embodies our steadfast commitment to excellence and innovation. It is designed to meet the growing demands of modern digital operations and will drive forward the technological advancement of our region.”
Thailand Approves $2.7bn Investment in data centre projects
Thailand’s Board of Investment (BOI) has approved three significant data centre and cloud services projects totaling $2.7 billion to be established in Bangkok, Chonburi, and Rayong.
The projects, which include one hyperscale data centre, will provide an IT load of nearly 350 MW. The largest investment will be made by Chinese firm Beijing Haoyang Cloud Data Technology Co., Ltd., which plans to construct a 300 MW data centre in Rayong Province. Singapore-based Emyrion Digital will invest 4.72 billion baht (US$135 million) to establish a data centre in Bangkok, with a 12 MW IT load. The third project, led by Thai company GSA Data Center 02 Co., Ltd., will invest 13.5 billion baht (US$386 million) for a data centre in Chonburi Province, with an IT load of 35 MW.
Narit Therdsteerasukdi, Secretary General of the BOI, said: “Ensuring that the digital infrastructure, including data centres, keeps in line with the demand of foreign investors and local entrepreneurs is essential to Thailand’s competitiveness in the age of the digital economy.”
VSDATA opens Armenian data centre hub
Armenian technology firm VSDATA plans to open its first environmentally conscious data centre in the South Caucasus region by the end of 2025. The facility, located in the Aragatsotn region, is designed to reduce its carbon footprint by 30-50% compared to conventional data centres, using the area’s natural climate advantages and renewable energy sources. The data centre will feature two independent power lines and an innovative cooling system based on spring water. A 25 km fibre optic connection will link the facility to Yerevan.
The location in a gorge provides a natural cooling advantage, with air temperatures averaging 5°C lower than surrounding areas, reducing the need for artificial cooling in its heating, ventilation, and air conditioning (HVAC) systems. The facility will house 125 server racks, including a specialized section for financial institutions, and offer services such as colocation, cloud computing (IaaS), cybersecurity solutions, 24/7 technical support, backup systems using Veeam, disaster recovery options, and CDN and S3 capabilities.
“The demand for data centres is growing due to increasing digitisation, from the Internet of Things to AI. As a result, energy consumption by data centres has also significantly risen. That’s why we decided to build a data centre using green technologies to reduce electricity consumption and contribute to a more sustainable future,” said Vladimir Shamirian, founder and CEO of VSDATA.
Spain’s grid operator gives Solaria green light for two more data center projects totaling 130MW
Spanish renewable energy developer Solaria has been granted approval by Spanish grid operator Red Eléctrica de España to connect two more data centers to the nation’s energy network. The company, which has an energy portfolio of 1.7GW in three regions of Spain, is currently constructing 1.4 GW of photovoltaic plants in Spain and aiming for 14.3GW of energy capacity across Europe by 2028 and 18GW by 2030.
Solaria has also announced plans to build a 200MW artificial intelligence data center with Japanese technology company Datasection, which will convert its industrial facilities in Puertollano to data center use. The company is also in negotiations with several American and European players to create joint ventures to develop cloud and artificial intelligence data centers. The company has a total of 155MW of grid connections and is currently constructing 1.4 GW of photovoltaic plants in Spain.
STACK Infrastructure secures $4bn Green Financing for data centre expansion
Privately-held STACK Infrastructure has secured $4bn in green financing for its data centre developments across North America. The funding will support the company’s 1+ gigawatt (GW) campus in Stafford, Virginia, as well as two additional campuses in Portland, Oregon, and Toronto, Canada. This green financing package reinforces STACK’s position as the largest private data centre developer in Virginia. Since 2019, the company has secured a total of $9 billion in financing for its Virginia developments alone. STACK has secured a total of $20 billion in debt capital to fuel the growth of its global portfolio.
Matt VanderZanden, President of STACK Americas, said: “STACK’s footprint in Virginia reflects our ability to support our clients’ growth in the most integral data centre market in the world. With strong access to capital and a proven record of delivering at the highest level, we remain committed to providing strategic digital infrastructure solutions across the globe.”
STACK’s expansion is not limited to Virginia. The recent financing also supports growth in Portland, Oregon, and Toronto, Canada.
Fintech investor Currenc Group pivots to data centers, plans 500MW campus in Johor, Malaysia
Currenc Group, a fintech holding company, is planning to acquire 100 acres in Johor, Malaysia for a 500MW data center campus. The first phase of the project is expected to be operational by the end of 2026, offering colocation and wholesale leasing to customers. Currenc is currently in discussions with potential anchor customers and plans to build out each phase once long-term tenants have been secured.
The investment marks the beginning of a new chapter in Currenc’s development, complementing its existing portfolio of AI tools for financial institutions. The new AI data center will deliver unmatched computing power and flexible, scalable infrastructure that financial institutions require to implement AI throughout their operations and thrive in the digital era. Currenc’s comprehensive AI solutions will continue to lower entry barriers for financial institutions to adopt AI, empowering growth across the financial industry and leading the digital transformation in Southeast Asia and beyond.
Currenc Capital is funding the Johor campus and developing it by Currenc Power Corp. The company also announced plans to form an AI-focused investment fund in collaboration with investment bank ARC Group. The CURR-ARC AI Fund 1 aims to raise up to $100 million and invest in AI data centers, green energy, and computing power development.
Crusoe Energy has begun construction on the second phase of its data center conglomeration on the Lancium Clean Campus in Abilene, Texas. The second phase, expected to be completed in mid-2026, adds six additional buildings, bringing the total facility to eight buildings, approximately four million square feet, and a total power capacity of 1.2GW.
The initial phase, which consisted of two buildings at 980,000 square feet and 200MW+, was originally set to be leased to Oracle, who would then lease it to Microsoft for use by OpenAI. However, with the January announcement of Stargate, OpenAI’s $500 billion data center effort backed by Oracle, that contract is believed to have transferred over to Stargate. Crusoe declined to comment on whether the new phase is for Stargate.
This week, the company announced a 4.5GW joint venture to get access to gas power. Crusoe’s co-founder and CEO, Chase Lochmiller, said “Our expansion in Abilene marks a significant milestone for the industry,”. “The sheer scale of compute power concentrated here is remarkable, defining an entirely new category for digital infrastructure, the AI factory. Bringing this facility to life will enable intelligence to be manufactured with unprecedented speed and scale. Crusoe is proud to provide the infrastructure that will advance humanity forward by accelerating the proliferation and ambitions of AI,
Michael McNamara, co-founder and CEO of Lancium, added: “Operating data centers at this scale and beyond demands campus level innovation to ensure grid reliability under all workloads. “We are very excited to showcase the Lancium Clean Campus and energy services model that pairs new behind-the-meter resources with the grid interconnect to transform large loads from potential risks to robust grid assets.”
Hut 8 secures 592 acres for 300MW Bitcoin and AI data center
Colocation and crypto data center firm Hut 8 has secured 592 acres of land in West Feliciana Parish, Louisiana, for the construction of a $2.5 billion data center dedicated to Bitcoin mining and AI workloads. Dubbed the ‘River Bend Campus,’ the site is expected to provide between 1,500 and 2,000 construction jobs and will house up to 300MW of power while being cooled by a closed-loop cooling system.
“We made significant progress in February across every layer of our platform, from expanding our footprint to developing digital infrastructure and upgrading our ASIC fleet,” said Asher Genoot, CEO of Hut 8, in the firm’s Q4 operations update. “In our power layer, we secured 592 acres in Louisiana for our newest River Bend campus. The site is expected to support a 300-megawatt utility-scale power asset with 200 megawatts of dedicated IT load.”
Hut 8 received the green light from local officials for a data center project in January. The first phase of the project will feature two 450,000 sq ft (41,800 sqm) facilities, with construction set to be completed by Q4 2025. The second phase will see additional data centers constructed by the end of 2026. Currently, Hut 8 has 19 data center sites either in operation or in development, including ten Bitcoin mining projects, five high-performance computing data centers, and four power-generation assets. Its 205MW ‘Vega’ site is set to launch later this year, featuring a custom rack-based, direct-to-chip liquid-cooling system designed for Bitmain’s ASIC miners.
In Q4 2024, Hut 8 entered into a working partnership with Bitmain to secure ~15 EHps of dedicated Bitcoin mining capacity through the hardware company’s new U3S21EXPH mining rigs. “Our Vega development remains on schedule for Q2 energization. Miner deliveries for our ~15 EHps ASIC Colocation agreement with BITMAIN are underway, and as we prepare for energization,” said Genoot.
OData announces new data center in São Paulo, Brazil
Latin American operator OData is developing a new data center in São Paulo, Brazil, with the Aligned Data Centers company announcing DC SP04, a 48MW facility to be located in Osasco, São Paulo. The company plans to invest over $450 million on the facility, which will become operational in April 2025. The data center will be the first in Brazil to feature Aligned’s Delta Cube (Delta³) cooling system, with DC SP04 offering densities of up to 50kW per rack.
“We take great pride in operating with 100 percent renewable energy in Brazil, reinforcing our ongoing commitment to sustainable and responsible energy practices. The integration of Delta³ in DC SP04 delivers rapid scalability, cutting-edge technological innovation, and exceptional energy efficiency, enabling us to quickly address the growing power density and capacity needs of our customers,” said Ricardo Alário, CEO of OData.
OData first announced its use of Delta³ cooling tech in its data centers last year. “Delta³ enables us to cool hyperscale IT environments efficiently, saving both energy and space. The system also seamlessly integrates with liquid cooling solutions, enabling OData to provide customers with high-density computing environments that can scale easily to accommodate AI, cloud, and high-performance computing deployments,” added Kelvin Tamura, design director at OData. US data center firm Netrality is also a user of Aligned’s Delta³ system at its Houston facility. Aligned launched a liquid cooling system called DeltaFlow in January 2024 that can be integrated with Delta³.
Turkish Coast Guard HQ opens data center
The Turkish Coast Guard Command has opened its first phase of the SahilNET networking project, which includes a data center at its headquarters in Ankara. The data center is part of the SahilNET project, signed between the Coast Guard and Havelsan in September 2021. The project aims to establish a network of data centers with hardware and software products to assist with the Coast Guard’s operations. Other data centers and server rooms will be located at provincial units of the Coast Guard Command outside of the headquarters.
Rear Admiral Ahmet Kendir, commander of the Turkish Coast Guard, said: “The Turkish Coast Guard Command has experienced substantial growth in recent years, giving rise to new technological requirements. The headquarters data center is a vital component in addressing these emerging needs and further enhancing the operational effectiveness of our Command.”. Mustafa Murat Şeker, deputy president of the Presidency of Defence Industries, added: “As the Presidency of Defence Industries, we remain committed to supporting the technological advancements of the Turkish Coast Guard Command. We are pleased with the successful completion of this initial phase of the SahilNET Project, which represents a key investment in national security infrastructure.”
The project was completed in partnership with Havelsan, a company providing high-tech, software-intensive products and solutions to the armed forces, public and private sectors. Havelsan’s general manager, Mehmet Akif Nacar, stated: “As Havelsan, we are dedicated to delivering advanced technological solutions to the Turkish Coast Guard Command. Through the SahilNET Project, we aim to establish a holistic and integrated data management model, contributing to the Command’s digital transformation.”
GDS’ DayOne breaks ground on Chonburi Tech Park data center campus in Thailand
DayOne, the international unit of Chinese data center operator GDS, has broken ground on its Chonburi Tech Park data center campus in Thailand. The project will be powered by 180MW of grid capacity and integrate liquid cooling technology to support high-performance computing. Over the next five years, the project will see $1 billion in investment.
Jamie Khoo, CEO of DayOne, said: “Our $1 billion commitment will deliver state-of-the-art infrastructure capable of supporting AI, cloud computing, and high-performance digital services, positioning Thailand as a key hub for global digital infrastructure and technological innovation. We are proud to invest in Thailand’s future and collaborate with industry leaders to create a sustainable, next-generation data center ecosystem.”
The Thailand Board of Investment approved GDS’ data center project at the end of last year, alongside another project being built by Quartz Computing, an Alphabet Inc. affiliate. Recently, the Thailand Board of Investment approved $2.7 billion of data center projects in the country, including a project from Empyrion Digital.
Alfanar to invest $1.4bn in Saudi Arabian data centers
Alfanar Global Development plans to invest $1.4 billion in developing data centers in Saudi Arabia. The company revealed its plans to develop four data centers across Riyadh and Dammam, in the last month during the LEAP 2025 event. Aiming to support cloud computing and AI-driven solutions for both public and private sectors. The data centers will be developed prioritizing sustainability and efficiency, contributing to the Kingdom’s green energy and environmental goals.
Amer Al Ajmi, executive vice president, said: “Alfanar Global Development is leaping into the future with this project, and we are proud of our continuous contribution to Vision 2030 in a transformative way. By creating a secure and scalable digital infrastructure, we are not only advancing the Kingdom’s digital economy but also attracting global businesses, putting Saudi Arabia on the map as a leader in data storage and technology-driven innovation.”
The company has completed four completed data center projects in Saudi Arabia for clients including the Saudi Red Crescent Authority, the General Authority for Statistics, the Bureau of Experts at the Council of Ministers, and the Saline Water Conversion Corporation. The largest of those data centers had 1MW of capacity.
Stack Infrastructure secures $4bn green financing for US and Canada data centers
Stack Infrastructure has secured $4 billion in green financing to fund data centers in the US and Canada. The funding will be used to develop the company’s planned 1GW campus in Stafford, Virginia, as well as additional campuses in Portland, Oregon, and Toronto, Canada. The funding typically refers to investment in projects that deliver environmental benefits, with repayments tied to specific sustainability goals. Stack Americas president Matt VanderZanden stated that the company is committed to providing strategic digital infrastructure solutions across the globe.
The Stafford Technology Campus will be built on a 500-acre site on the east side of US Route 1 at I-95, housing up to 19 data centers and six 300MW substations from Dominion Energy. The company has already three data centers in Portland’s Hillsboro area and plans to expand two of these, adding an additional 12MW to its POR01 facility and 150MW to its POR03 campus.
Stack launched a data center in Toronto in 2023, with 8MW available, which could eventually grow to 48MW. In total, Stack has approximately 4GW in operation or development globally, with another 6GW planned in the future.