GIC aims to invest $2.62b in North American data centres

It bought land in Arizona to start building a data centre.

Singapore's wealth fund GIC will lead vehicle EdgeCore Internet Real Estate LLC that will develop, acquire, and invest in American data centres.

According to a press release, the company will initially be given $1.05b (US$800m) to support around $2.62b (US$2b) in data centre development and investment.

EdgeCore Internet Real Estate’s initial rollout of its North American data centre platform will include campus developments across six markets. Each of the campuses will be built to deliver 100-200 MW of power.

The company has acquired land in Mesa, Arizona, and prior to the end of this quarter, the company plans to close upon existing agreements to acquire land in Dallas and Reno.

GIC partnered with Mount Elbert Capital Partners (Mount Elbert) and OPTrust to form the company.