Blackstone Group, the world’s largest alternative asset management firm, in collaboration with its development partner Panchshil Realty, is set to establish India’s largest hyperscale data center in Navi Mumbai. The project, with a capacity of 500 MW, involves an investment exceeding Rs 200 billion. The data center will be a first-of-its-kind facility in the country, spanning 14 buildings and covering a total area of 3 million square feet. It is expected to operate using up to 65 per cent renewable energy, aligning with sustainability goals in the digital infrastructure sector. To facilitate the development, Panchshil Realty’s subsidiary, Gramercy Info Park, has acquired nearly 50 acre of land adjacent to Reliance Corporate Park in Navi Mumbai’s Ghansoli area. The acquisition, amounting to Rs 9 billion, includes land consideration, levies, and associated charges. The company secured the entire property within MIDC’s Trans Thane Creek Industrial Area through two separate agreements. The transactions were officially registered on February 11, as documented by real estate data analytics firm Propstack. This initiative represents a major milestone in foreign direct investment within India’s digital infrastructure sector. It follows Blackstone’s recent agreements with the Maharashtra government at the Davos summit, where the US-based asset manager committed to expanding its presence in India’s real estate and data center markets. The hyperscale data center is expected to strengthen India’s position as a key player in the global digital economy, catering to the increasing demand for advanced cloud and data storage solutions. News source: Outlook Business