Equinix, Inc. has announced a joint venture agreement with GIC and the Canada Pension Plan Investment Board (CPP Investments), aiming to raise over US$15 billion in capital to facilitate the growth of its xScale data center portfolio.

The capital raised from this partnership is designated for acquiring land and constructing new xScale facilities across sites in the United States.

A projected increase of more than 1.5 gigawatts of capacity is anticipated.

Under the terms of the joint venture, CPP Investments and GIC will hold 37.5% each, while Equinix will hold a 25% stake.

Each participant is contributing equity commitments, and the venture plans to leverage debt to exceed the overall target of over US$15 billion.

Equinix established a prior joint venture portfolio that invested more than US$8 billion.