AdaniConneX raises USD 213 mln for its under-construction data centre assets
Jun 23, 2023
Ahmedabad (Gujarat) [India], June 23 : AdaniConneX on Friday announced it had raised USD 213 million for its under-construction data center asset portfolio.
It will finance two of its data centres with an aggregate capacity of 67 MW that includes 'Chennai 1' campus with Phase 1 of 17 megawatt and Noida campus of 50 megawatt, the company said in a release.
The financing will help deliver the critical digital infrastructure to empower 'Digital India' with 1 GW of data center capacity by 2030.
AdaniConneX is a 50:50 joint venture between Adani Enterprises Ltd and EdgeConneX.
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.
"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," it said in a statement Friday.
Notably, 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 2021-22 to 1700-1800 MW by 2024-25.
"The achievement marks a significant milestone in developing this transformative initiative, which is set to revolutionize the digital infrastructure in India," said Jeyakumar Janakaraj, CEO of AdaniConneX.
"We are committed to delivering a pan-India Data Center platform," said Mr. Anil Sardana, Director of AdaniConneX (Adani representative on the board).
The growing digitalisation backed by a strong government policy impetus and focus on data localisation have led to a surge in demand for data centers.
"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 - AdaniConneX (Chief Operating Officer and Co-Founder, EdgeConneX).
"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," added Wilson.
