AdaniConneX seals largest data centre financing deal in India with $213mn construction financing facility – EQ Mag
To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a 1 GW Green Data Center platform
AdaniConneX, a 50-50 joint venture between Adani Enterprises Ltd and EdgeConneX on Friday said that it had sealed the largest data center financial deal in India by raising $213 million to fund its under-construction data centers, said Adani Group’s flagship arm
The company, in a statement said, said that the raised capital will be used to finance two data centers in the cities of Chennai and Noida, with an aggregate capacity of 67 megawatts (MW).
This includes ‘Chennai 1 campus with Phase 1 of 17 MW and Noida campus of 50 MW.
“The construction facility is the key ingredient of AdaniConneX capital management plan, providing the pathway for us to deliver on-time a reliable and sustainable data center capacity of 1 GW by 2030,” said Jeyakumar Janakaraj, CEO of AdaniConneX.
“We are committed to delivering a pan-India Data Center platform,” said Anil Sardana, Director of Adani ConneX.
“The facility shall encourage overall implementation philosophy to power the digital infrastructure by delivering clean and long-term renewable energy solutions aiming toward a carbon-neutral footprint,” Sardana added.
ING Bank NV, Mizuho bank Ltd. MUFG Bank Ltf, Natimix, Standard Chartered Bank and Sumitomo Mitsui Branking corporation have made commitments to provide funding for the facility.
Among other partners, Allen & Overy and Saraf & Partners were the borrower’s counsels. The lenders’ counsels were Clifford Chance and Cyril Amarchand Mangaldas.
“We welcome the banking partners through their participation with AdaniConneX. We are excited about our overall journey with Adani in India that has started with a robust implementation plan and a tremendous customer pipeline that will quickly establish AdaniConneX as the leading digital infrastructure platform for all of India,” said Edmund Wilson, Director at AdaniConneX and Chief Operating Officer and Co-founder at EdgeConneX.
He added, “Leveraging Adani’s proven infrastructure experience and EdgeConneX data center record, we are keen to play an integral and pivotal role – bringing in a digital revolution.”
Source: PTI
