AdaniConneX has announced that it has concluded a debt financing deal worth $213 million to fund the build out of its India data centre portfolio, with 67 megawatts (MW) of capacity across their Chennai 1 and Noida campus under construction.
India is one of the fastest-growing data centre markets in the world, with CRISIL estimating that data centre capacity in India is expected to double from ~870 MW in 2022 to between 1700 and 1800 MW by the end of 2025. To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a one gigawatt (GW) green data centre platform, enabled by hyperscale to hyperlocal data centre investments across the country.
The Platform Infrastructure Financing finalised through the Framework Agreement with international lenders is designed to institutionalise the development agenda for AdaniConneX. ING Bank N.V., Mizuho Bank, Ltd., MUFG Bank, Ltd., Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility. The access to the wide pool of liquidity strengthens AdaniConneX strategy to fast-track the implementation of the under-construction asset portfolio in sync with accelerating demand.
“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 one GW by 2030,” said Mr Jeyakumar Janakaraj, CEO of AdaniConneX. “The achievement marks a significant milestone in developing this transformative initiative, which is set to revolutionise the digital infrastructure in India.”
“We are committed to delivering a pan-India Data Center platform,” said Mr. Anil Sardana, Director of AdaniConneX (Adani representative on the board). “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. EdgeConneX extensive data centre expertise and industry-leading technology solutions combined with Adani’s expertise in full-stack energy management, renewable power, and project development are set to transform the sector.”
The construction facility finances two data centre projects in Chennai (Tamil Nadu) and Noida (Uttar Pradesh), with customised enterprise colocation offerings and hyperscale solutions. The ‘Chennai 1’ campus with ‘Phase 1’ 17 MW data centre capacity is Tamil Nadu’s first pre-certified IGBC Platinum Rated data centre providing customised colocation solutions to enterprise segment. The under-construction Noida campus is being implemented with a 50 MW capacity to support strategic expansion needs of hyperscale customers in India.