Fidelity, which owns Colt Data Centre Services (DCS) has announced a joint 50:50 venture agreement with Mitsui & Co, to develop hyperscale data centres in Japan, strengthening Colt’s presence in the Tokyo and Osaka regions.
Mitsui & Co. is said to be planning to invest a total of $2.7 billion by 2026 in the development of new data centres and the acquisition of existing facilities, and the Fidelity deal is part of this effort.
Colt DCS currently has 50MW of existing built capacity in Japan, which will almost triple to 140MW following the joint venture, said the partners. The Fidelity-owned firm pre-sold 94% of capacity before the launch of its Inzai Three facility in November last year.
“Japan remains a strategic country of focus for our regional expansion, where the demand for large-scale data centre capacity outstrips supply,” said Niclas Sanfridsson, CEO of Colt Data Centre Services.
Colt will be the exclusive service provider for the design, development, operations and customer service management for the joint venture. Mitsui & Co. Realty Management, a private real estate fund management subsidiary of Mitsui, will serve as the asset manager for the venture, covering structuring, financing, land sourcing, development support and Japanese customer marketing.
Shinsuke Waka, general manager of the financial business division of Mitsui & Co., said: “Through the management of the Mitsui Fund and our joint venture, Mitsui will utilise its unique financial and industrial capabilities to respond to hyperscale market needs with its global partners.”