Infratil’s data centre valuation up by $287 million
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The news: The value of infrastructure investor Infratil’s stake in data centre operator CDC has increased following an independent valuation.
The numbers: Infratil said its CDC stake was valued between $4.39 billion and $5.25 billion as on 30 September, an increase of $287 million since June-end.
Infratil owns 48.17% stake in CDC, which has been one of its most successful investments.
The context: The dual-listed Infratil said the increase in valuation reflects “a continued high level of interest from customers” which has resulted in advancing customer discussions for capacity across all regions in which CDC operates and accelerating construction and development activity. Infratil raised $1.07 billion in an equity raising in June to partly fund the data centre operator’s growth.
CDC’s forecast build capacity to FY 2034 has increased 409 megawatt (MW) since June, primarily reflecting increased demand for capacity in Melbourne and Auckland.
Meanwhile, CDC’s first data centre in Melbourne performed well in its first full quarter of operations, with “positive progress” on the more than 400 MW of capacity under advanced negotiations that was flagged in June.
What they said: “This increase in future build capacity reflects both an upsizing of current planned sites, as well as the introduction of future sites expected to come online over the latter part of the 10-year capacity forecast,” Infratil said.
The source: ASX announcement
