Singapore-based Hillhouse Investments has set up TeraNova DC, a dedicated data-centre platform, with plans to put about US$12–15 billion into developing over 2 GW of capacity across key Indian markets by 2032, newly appointed chief executive Sanjay Bhutani told Mint in an interview published 15 October 2026.
This is a plan only. Mint’s report names no specific sites, customers or committed financing packages. Treat the dollar range and megawatt target as Bhutani’s stated ambition via Mint, not as contracted build.
What Bhutani said the platform will do
TeraNova will focus on hyperscale, AI-ready and sustainable campuses in markets including Maharashtra, Hyderabad, Andhra Pradesh, Delhi-NCR and Gujarat, Mint reported. The strategy centres on strategically located land banks, power-ready sites and scalable campus infrastructure.
“India’s digitization vision is entering a defining phase. As hyperscalers, enterprises and a new generation of AI startups scale their ambitions, the country will require gigawatt-scale data centre campuses that provide compute-ready infrastructure and deployment certainty,” Bhutani told Mint.
He said the aim is to help customers turn growth plans into operational capacity with speed, reliability and confidence, using an experienced team, technology and energy partnerships, and a disciplined delivery approach.
How TeraNova says it will build
Mint reported that TeraNova plans gigawatt-scale campuses for hyperscale cloud, enterprise and high-density AI workloads, with room to expand as requirements evolve. The company will adopt design for manufacture and assembly (DFMA), modular construction and prefabricated power and cooling to improve quality, consistency and timelines. Standardized specifications, coordinated procurement and global/local supply chains are meant to secure long-lead equipment on predictable schedules.
Sustainability, resource efficiency and EHS are to be embedded through design, construction and operations, Bhutani said, including more renewable energy, better power efficiency and water-efficient cooling — again as stated intent, not as measured performance.
Who Bhutani is
Mint said Bhutani has nearly three decades across IT, telecom and digital infrastructure and played a major role in forming and growing AdaniConneX, the joint venture between Adani Enterprises and EdgeConneX. Hillhouse hired him to deepen its India presence.
Hillhouse context via Mint
Mint described Hillhouse as a global alternative investment manager founded in 2005 with seed capital from Yale’s endowment, with India real-estate commitments including through Alta Capital. Those background points are Mint’s reporting on the firm, not a Hillhouse press release — TSN found no standalone Hillhouse PR for TeraNova in this draft window.
Why it matters — and what it is not
India’s AI and cloud build-out has drawn a crowded field of LOIs and platforms. TSN has covered Tata Power’s data-centre pipeline, Adani–Jabil’s proposed AI hardware JV, CtrlS’s Bihar LOI and Vertiv’s Mumbai liquid-cooling claim. TeraNova adds another capital-markets name and a CEO with AdaniConneX experience — but until land, power and customers are named, it remains a strategy interview.
Do not confuse this with Colt DCS/RMZ’s Mumbai 3 construction start, a different company with a fully pre-let 64 MW hall already in build.
Caveats
Plan only. Credit US$12–15 billion to Bhutani via Mint (ET DataCenters has used an “up to $12 bn” headline elsewhere — stick to Mint’s range). Skip Mint’s unattributed national capacity statistics (1.57 GW / ~8 GW) that lack a clear source in the piece.
What to watch next
- First named campus location or land bank
- Anchor hyperscale or neo-cloud customers
- Financing structure for the US$12–15 billion ambition
Sources
- Mint (Priyamvada C, Agnidev Bhattacharya), “Hillhouse launches data centre platform TeraNova DC, may deploy $12-15 bn in India by 2032”, 15 October 2026. https://www.livemint.com/companies/hillhouse-launches-data-centre-platform-teranova-dc-with-plans-to-deploy-12-15-billion-by-2032-11791954712858.html
Related stories
- Tata Power Says It Has a 2.8 GW+ Data-Centre Opportunity Pipeline Across 18 Operators
- Adani Enterprises and Jabil Sign a Non-Binding Deal to Plan a 50:50 AI and Data-Centre Hardware JV in India
- CtrlS Signs Letter of Intent for a Rs 10,000 Crore, 150 MW AI Data Centre in Bihar
- Vertiv Says It Delivered India’s First Direct-to-Chip Liquid-Cooling Deployment, for 30 MW of AI IT Load
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