The Adani Group has signed an MoU with the government of Maharashtra to invest ₹50,000 crore over 10 years to set up 1 GW capacity of hyperscale data centre infrastructure. The agreement was signed at the World Economic Forum in Davos.

The data centers will come up in Pune and Mumbai or Navi Mumbai, and will be powered by renewable energy, a statement said. It will provide employment to 20,000 people directly or indirectly.

The Adani Group said that it will also make deemed distribution investment to power the infrastructure.

The Maharashtra government recently formulated a data center policy as it is one of the States attracting a lot of investments in the sector, especially Mumbai. Apart from being the financial capital and a business hub the city has other advantages such as a good power infrastructure, undersea cable landing station and fiber connectivity.

Some of the companies that have set up data centers include CapitaLand, AdaniConnex, CtrlS, NTT Data, STT, Equinix and Web Werks.

The statement by the Adani Group said the State government was interested in promoting information technology related infrastructure and services and considered that the data center would benefit the state economically and socially.