Singapore-based Hillhouse Investments has launched TeraNova DC, a dedicated data-centre platform that plans to invest $12 billion to $15 billion in India by 2032. With a target of more than 2 gigawatts (GW) of capacity, the platform is set to become one of the largest announced data-centre programmes in the country.
TeraNova DC will focus on hyperscale and AI-ready infrastructure. Its proposed locations are Maharashtra, Hyderabad, Andhra Pradesh, Delhi-NCR and Gujarat. These markets offer a mix of enterprise demand, cloud availability zones, strong subsea and terrestrial connectivity, power access and supportive state investment policies.
A campus-led, phased build-out
The platform will prioritise large land parcels, power-ready sites and campus infrastructure that can be scaled in phases. This model is becoming the norm for AI-oriented developments, since accelerated-computing clusters need far higher power density, cooling capacity and electrical redundancy than conventional enterprise data centres.
Leadership and mandate
Sanjay Bhutani has been appointed chief executive officer. He will build a multi-city portfolio to serve hyperscalers, AI companies, cloud platforms and large enterprises. Sustainability is part of the development strategy, but TeraNova has yet to disclose targets for renewable-energy procurement, water management or power usage effectiveness.
Why the timing matters
Hillhouse enters a market where developers are competing for large, contiguous sites with access to high-capacity transmission networks. Demand is being driven by the growth of India’s cloud-services market, tightening data-localisation requirements and rising enterprise adoption of generative AI. All of these call for facilities that can handle higher rack densities and large GPU deployments.
What remains to be seen
The capital will be deployed over several years rather than as a single outlay. Each campus remains subject to land acquisition, grid connectivity, environmental approvals, customer commitments and construction timelines. TeraNova has not yet shared a site-by-site capacity breakdown or a commissioning date for its first facility.
The bigger picture
The announcement links Singapore-headquartered institutional capital with India’s fast-growing digital-infrastructure sector. It also adds a new player to a crowded field, where global infrastructure funds, telecom operators, specialist developers and domestic conglomerates are already committing billions of dollars to expand capacity.
