Indonesia's INA keen to partner with cloud, AI providers
Indonesia’s sovereign wealth fund has signalled its willingness to partner with leading global technology companies to develop domestic and foreign data centre capacity, following a new fund targeting $100 billion of new investment into the sector.
“Collaborations with investors like BlackRock or leading technology providers, such as Microsoft, AWS (Amazon Web Services) and Nvidia, in AI and digital infrastructure initiatives could unlock diverse opportunities," Stefanus Hadiwidjaja, CIO of the Indonesia Investment Authority (INA), the country’s $9.4 billion sovereign wealth fund, told AsianInvestor.
"We are open to partnerships that offer strategic value, particularly in digital infrastructure or any key support industries, especially in renewable energy supply."
INA
AsianInvestor recently reported that Abu Dhabi sovereign fund Mubadala, together with BlackRock, Global Infrastructure Partners (GIP) and Microsoft, launched the Global AI Infrastructure Investment Partnership (GAIIP).
The fund is seeking $30 billion in private equity from investors, asset owners, and corporates, and an additional $70 billion in debt financing, for data centre and other AI infrastructure opportunities.
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INA’s own data centre investments date from September 2023, when it struck a deal with Chinese data centre developer GDS to build a series of data centres across Indonesia, although the size of the deal has not been released.
Hadiwidjaja said the fund was seeking additional opportunities to grow its allocations, particularly in Indonesia, but also possibly abroad.
“We remain open to exploring international opportunities that align with our strategic objectives. These opportunities would ideally bring both capital and expertise into Indonesia's local ecosystem, enabling access to cutting-edge technology and further enhancing the growth of Indonesia’s digital landscape,” Hadiwidjaja said.
INA is hoping to position the country as a potential data centre hub, targeting aggressive expansion of its domestic capacity in a region where investment opportunities in the sector are scarce.
“We see a significant runway of opportunities to be captured in Indonesia’s digital infrastructure space, particularly in data centers," he noted.
"With global demand projected to triple in the coming years, we believe Indonesia has a strong opportunity to secure a substantial market share, especially if it can meet global players' green energy requirements."
Hadiwidjaja emphasised the role of partnerships with cloud providers such as Microsoft – as well as other digital infrastructure developers in the region - in pursuing this goal.
“Partnerships with investors and leading technology companies would not only bring cutting-edge technologies, supply chain networks, and global expertise but also unlock Indonesia’s green energy potentials, offering greater exposure to Indonesia’s growing digital ecosystem.
“To meet the [new] demand, INA continues to forge strong partnerships, such as our collaboration with GDS, to access high-quality projects and enable greater investments.
'Our ongoing efforts aim to enhance Indonesia’s competitiveness in the data center sector and meet its evolving needs,” he said.