AdaniConneX, a joint venture between Adani Enterprises (AEL) and EdgeConneX (ECX), has secured a senior debt facility of $213 million from international banks to expedite its plans for delivering essential digital infrastructure and constructing local data centres. The funds will be utilised to finance the ongoing development of AdaniConneX’s data centre portfolio, which amounts to 67 MW in Noida and Chennai.
India is experiencing remarkable growth in the data centre market, and estimates by CRISIL indicate that the country’s data centre capacity is set to double from 870 MW in FY22 to 1700-1800 MW by FY25. AdaniConneX has successfully achieved financial closure through its initial construction facility to capitalise on this trend. This milestone was reached by entering into a Financing Framework, raising $213 million for the ongoing construction of its data centre assets.
The current financing will support the establishment of two data centres, with a combined capacity of 67 MW, encompassing the “Chennai 1” campus, including Phase 1 with 17 MW, and the Noida campus with 50 MW. This initiative involves making strategic investments in hyper-scale and hyperlocal data centres across India.
To ensure the realisation of its development agenda, AdaniConneX has secured the platform infrastructure financing through a framework agreement with international lenders. Access to a diverse pool of liquidity will bolster AdaniConneX’s strategy to accelerate the implementation of its ongoing data centre projects to meet the growing demand.
Mr Jeyakumar Janakaraj, CEO of AdaniConneX, emphasised the significance of the construction facility in their capital management plan, as it paves the way for the timely delivery of a reliable data centre capacity of 1 GW by 2030. He further stated that this achievement represents a significant milestone in the development of AdaniConneX’s transformative initiative, which is poised to revolutionise India’s digital infrastructure.
Anil Sardana, Director of AdaniConneX, expressed the commitment to establish a nationwide Data Center platform and highlighted the facility’s contribution to powering the digital infrastructure with clean and renewable energy solutions, aiming for a carbon-neutral footprint. The collaboration between EdgeConneX’s expertise in data centres and technology solutions and Adani’s proficiency in energy management, renewable power, and project development is set to drive a significant transformation in the sector.
AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, aims to redefine the data centre landscape in India. Leveraging the synergies of the Adani Group, India’s largest infrastructure player, and EdgeConneX, one of the leading private data centre operators, AdaniConneX envisions building a socially and environmentally conscious 1 GW data centre infrastructure platform. Their goal aligns with the vision of Digital India, where data centre solutions must be at the forefront to accelerate ambition and innovation in the country.
