AdaniConneX secures $213m construction financing for data center expansion in India

AdaniConneX, a joint venture between Adani Enterprises Ltd (AEL) and EdgeConneX (ECX), has successfully secured a $213 million senior debt facility to finance its ongoing data center projects in Noida and Chennai.

This landmark financing deal marks the largest in India’s data center industry and paves the way for the implementation of a sustainable digital infrastructure platform with a pan-India rollout.

The funding enables AdaniConneX to execute its capital management plan and deliver critical digital infrastructure to support the Digital India initiative. With a goal of achieving 1 gigawatt (GW) of data center capacity by 2030, AdaniConneX aims to meet the growing demand for reliable IT infrastructure and contribute to the development of the country’s data center ecosystem.

The financing arrangement was made possible through a framework agreement with international lenders, including ING Bank N.V., Mizuho Bank Ltd., MUFG Bank Ltd., Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation. This collaboration provides AdaniConneX with access to a wide pool of liquidity, accelerating the implementation of its under-construction data center assets to meet the surging demand in the market.

Jeyakumar Janakaraj — AdaniConneX CEO emphasized the significance of the construction facility in their capital management plan and stated: “The achievement marks a significant milestone in developing this transformative initiative, which is set to revolutionize the digital infrastructure in India.”

AdaniConneX’s commitment to delivering a pan-India data center platform aligns with its vision of powering the digital infrastructure with clean and renewable energy solutions, aiming for a carbon-neutral footprint. The partnership between EdgeConneX’s expertise in data centers and technology solutions and Adani’s proficiency in energy management, renewable power, and project development is expected to bring about a digital revolution in the sector.

The construction facility will support the development of two data center projects, including the ‘Chennai 1’ campus in Tamil Nadu with a Phase 1 capacity of 17 megawatts (MW). This pre-certified IGBC Platinum Rated data center will offer customized colocation solutions to enterprises. Additionally, the under-construction Noida campus with a 50 MW capacity will cater to the expansion needs of hyperscale customers in India.

AdaniConneX’s achievement in securing the largest data center financing deal in India signifies a significant milestone in their mission to establish themselves as a leading digital infrastructure platform in the country. With a focus on sustainable and scalable data center solutions, AdaniConneX is well-positioned to support India’s digital transformation and meet the increasing demand for robust IT infrastructure.