Equinix, Inc. and PGIM Real Estate announced an agreement to establish a $575 million joint venture in the form of a limited liability partnership to develop and operate two xScale data centers in Sydney, Australia. The facilities in the joint venture, which will be known as SY9x and SY10x, are expected to provide more than 55 megawatts (MW) of power capacity to serve the unique core workload deployment needs of a targeted group of hyperscale companies, including the cloud service providers. The first xScale data center in Sydney SY9x is expected to open in first quarter of 2022. Combined with Equinix's existing hyperscale joint ventures in Europe, Asia-Pacific and the Americas, this joint venture will bring the global xScale data center portfolio to more than $7.5 billion across 34 facilities, and an expected greater than 675 MW of power capacity when completed and fully constructed. To date, six xScale data centers have been opened in Asia-Pacific, EMEA and LATAM, including TY12x in Tokyo, PA8x and PA9x in Paris, LD11x and LD13x in London, and SP5x in São Paulo, with more currently under development.