Submission Statement: EQT AB is planning a $50 billion spending spree in India by 2030. The bulk of the buyout firm’s investments — around $30 billion — will be in data centers, with another $5 billion devoted to renewable energy to power them, according to Jean Salata, chair of Stockholm-based EQT.
EQT joins a growing number of global investors such as Blackstone Inc., Brookfield Asset Management Ltd., Warburg Pincus and Bain Capital that are rapidly investing in India’s data center capabilities. Amazon.com Inc. plans to invest $12.7 billion in cloud infrastructure in India through 2030, while Alphabet Inc. is spending about $15 billion on an AI infrastructure hub in Visakhapatnam.
For EQT, the data center bets will be combined with green energy investments, including battery energy storage solutions, according to Salata, a Chilean-born billionaire who became chair of global EQT Group in May.
Besides infrastructure, EQT plans to accelerate investments in venture and buyout private equity in India, spending about $15 billion to $20 billion by 2030, Salata said.
“India is going to play a disproportionately large role in our strategy going forward just because the sheer size of the opportunity that we’ve been discussing today,” Salata said.
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