Chindata Group, a carrier-neutral hyper-scale data center solution provider in Asia-Pacific emerging markets, has posted its latest financial results confirming its total revenue has grown 64.5% compared with the same quarter of last year to RMB467.5 million. Its average construction cost per MW for all in-service data centers was less than USD$3.0 million.
IT Megawatts to measure business scale
For the quarter, the company chooses “IT Megawatts” to measure its business scale. ”As we strongly believe we are in the business of converting electric power efficiently to computing power, the periodic power consumption is undoubted a very good indicator to our operational performance,” said Chindata Group in the earnings call. We learned that in line with the solid ramping-up of capacity utilization, its year-to-date power consumption reached approximately 720 million kWh. As a note to power efficiency, the year-to-date average PUE was 1.22, which is significantly better than the industry average.
Among the highlights noted in the earning call, Chindata Group emphasized its development strategies, which consist of comprehensive site development, integrated energy services, and equipment manufacturing, enable the group to expand rapidly while implementing excellent cost controls to balance both the size and quality of the development.
Comprehensive development capabilities
Chindata Group places a strong emphasis on the cultivation of our comprehensive site development capabilities, the core of which is made up of its independent planning, design, and construction management. Topping with its land resources, this team is able to effectively execute IDC projects and navigate roadblocks to ensure their on-time delivery. As a result, they can deliver additional capacities while maintaining low construction costs and swiftly respond to their customers’ expansion demands.
As of September-end, Their average construction cost per MW for all in-service data centers was below USD$3.0 million according to the earnings call. Furthermore, one of their sizable self-built substation went into operation in this quarter, which can support 210 MW capacity and it is considered the largest self-built substation that is dedicated to the data center campus in China.
Comprehensive energy service capabilities
Focusing on bolstering the comprehensive energy service capabilities, enables the Group to utilize different sources of energy in a highly efficient manner. “We are involved in the promotion, development, and implementation of power trading mechanisms in the local markets in which we operate. We believe that these mechanisms augment our economies of scale in terms of power costs. Meanwhile, we integrate more renewable energies into our operations to upgrade both our power efficiency and power cost advantages. Moving forward, we will continuously balance the mix of renewable energy usage, with our ongoing efforts to reduce the total cost of power. “said Chindata Group in earnings call.
For the nine months ended September 30, 2020, as a result of their end-to-end one-stop service model, the data centers’ power consumption demand of Chindata Group remained both stable and high, while the rapid growth of IT capacity utilization increased their total power consumption to 720 million kWh by the end of September.
Equipment manufacturing capabilities
It mentioned that their equipment manufacturing capabilities continue to serve as a cornerstone of their overarching operational strategy. As of September 30 this year, they had acquired a total of 194 approved and pending patents to further optimized their designs to better leverage the ODM model and continuously lower the equipment costs.