Jun 23, 2026 · 14 min · 8 segments
We are finally back together in our unofficial studio. A few phone storage issues meant we had to record an unprecedented three times so if we look a bit frustrated you know why. But nevertheless a…
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James MurphyHostCo-HostHostSo open off with the financial stories and a big congratulations to Sridhar and the team at Control S because they have raised a not insignificant sum of money from the Canadian CPPIB Being reported as a joint venture, but there's more to it than that, right?
Yeah, a couple of different currencies floating around.
So let's just briefly touch on them also.
Indian rupee, 70 billion investments.
U.S. dollars, 740-odd million.
And then Canadian dollars... about $1 billion Canadian dollars, but let's revert to USD just to keep things simple.
So it looks like 423 or four-sevenths of the total amount is going to be for 8.2% of the existing Control-S platform.
The remaining $317.5 million is going to go into a JV, which will be 48%.
TPP and 52% Control S.
So it's two investments, I guess is how you may describe it.
Yeah, but it's a vote of confidence in the Control S platform, which obviously is pretty significant across India, several hundred megawatts, I think close to 400 megawatts at the moment, with a pretty significant target and presence across pretty much all the major metros and a lot of the tier two cities in India.
Yeah, pretty significant vote of confidence because at $420 million for 8.2%, this is almost a $5 billion valuation that CPPIB are putting on the Control S platform, which, yeah, again, for mostly a single country but with ambitions, that's a good metric for them at this stage and pretty big news.
They do have one of the broadest platforms across India of anyone, really, because I saw that they were now in... 19 data centers in nine cities, including classics such as Bhopal and Lucknow.
Yep.
A couple other places that would be difficult for us to pronounce.
But no, a significant platform.
Congratulations to the team.
They've got a very good client roster, obviously.
So that's where a lot of the value is coming from.
And as it is now publicly all over LinkedIn, we can congratulate Dharma and Andrew Gordy, who have recently joined Control S as the COO and head of development, I think is the title, officially.
So congratulations.
Congrats to those guys and the team.
Obviously a big signal there of their APAC ambitions.
So open off with the financial stories and a big congratulations to Sridhar and the team at Control S because they have raised a not insignificant sum of money from the Canadian CPPIB Being reported as a joint venture, but there's more to it than that, right?
Yeah, a couple of different currencies floating around.
So let's just briefly touch on them also.
Indian rupee, 70 billion investments.
U.S. dollars, 740-odd million.
And then Canadian dollars... about $1 billion Canadian dollars, but let's revert to USD just to keep things simple.
So it looks like 423 or four-sevenths of the total amount is going to be for 8.2% of the existing Control-S platform.
The remaining $317.5 million is going to go into a JV, which will be 48%.
TPP and 52% Control S.
So it's two investments, I guess is how you may describe it.
Yeah, but it's a vote of confidence in the Control S platform, which obviously is pretty significant across India, several hundred megawatts, I think close to 400 megawatts at the moment, with a pretty significant target and presence across pretty much all the major metros and a lot of the tier two cities in India.
Yeah, pretty significant vote of confidence because at $420 million for 8.2%, this is almost a $5 billion valuation that CPPIB are putting on the Control S platform, which, yeah, again, for mostly a single country but with ambitions, that's a good metric for them at this stage and pretty big news.
They do have one of the broadest platforms across India of anyone, really, because I saw that they were now in... 19 data centers in nine cities, including classics such as Bhopal and Lucknow.
Yep.
A couple other places that would be difficult for us to pronounce.
But no, a significant platform.
Congratulations to the team.
They've got a very good client roster, obviously.
So that's where a lot of the value is coming from.
And as it is now publicly all over LinkedIn, we can congratulate Dharma and Andrew Gordy, who have recently joined Control S as the COO and head of development, I think is the title, officially.
So congratulations.
Congrats to those guys and the team.
Obviously a big signal there of their APAC ambitions.
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