Megawide on Tuesday, February 28, signed a shareholders’ agreement with Singapore-based Evolution Data Centres (EDC) to design, build, and operate a state-of-the art Philippine data center.
Together, the companies will be responsible for the construction of a 69-megawatt colocation data center in the Philippines. Phase one of the project is set to cover a 23-megawatt deployment, spread over five years inside a four-hectare Cavite property. The data center’s estimated cost is roughly PHP16.5 billion for phase one.
The development carries great significance for Megawide, who has resolved to widen its reach in digital infrastructure. The Company had come to recognize the increasingly digitalized environment both enterprises and consumers inhabit, explained Megawide Chief Business Development Officer Jaime Feliciano. He added: “Data centers are at the very center of this new reality.”
The current government’s support for data centers in the Philippines, as well as rising data consumption among Filipinos, were among the reasons that drew EDC to the Philippines, according to EDC CEO Darrenn Webb.
Headquartered in Singapore, Evolution Data Centres pte Ltd. was founded in 2021 with the strategic vision to become the next-generation, leading pan-Asian data center platform, delivering digital infrastructure, reliably and sustainably,into high growth markets.
The transaction is subject to the approval of the Philippine Competition Commission, which is expected to be within the next 30 to 60 days, and completion of all closing conditions.
