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Gautam Adani
AdaniConneX, a join venture between Adani Enterprises And EdgeConneX, said it has sealed the largest data center financial deal in India by raising $213 million to fund its under-construction data centers.
According to the company's statement, The tied-up facility will finance two data centers with an aggregate capacity of 67 MW that includes ‘Chennai 1’ campus with Phase 1 of 17 MW and Noida campus of 50 MW.
India is one of the fastest-growing data center markets in the world, and as per CRISIL estimates the data center capacity in India is expected to double from ~870 MW in FY22 to 1700-1800 MW by FY25.
The comapny also said it is doing investments to build a 1 GW Green Data Center platform, enabled by hyperscale to hyperlocal data center investments across the country.
The Platform Infrastructure Financing finalized through the Framework Agreement with international lenders shall institutionalize 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 company said.
“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. “The achievement marks a significant milestone in developing this transformative initiative, which is set to revolutionize the digital infrastructure in India.”
“We are committed to delivering a pan-India Data Center platform,” said Anil Sardana, Director of AdaniConneX. “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 center 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.”
“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. 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,” said Edmund Wilson, Director – AdaniConneX (Chief Operating Officer and Co-Founder, EdgeConneX).
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