AdaniConneX secures $213 million financing facility for data centres

The facility will finance two data centres with an aggregate capacity of 67 MW that includes Chennai 1' campus with Phase-1 of 17 MW, and Noida campus of 50 MW.

AdaniConneX secures $213 million financing facility for data centres

Friday June 23, 2023,

2 min Read

AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX (ECX), has secured a $213 million debt facility for its under-construction data centre asset portfolio.

The facility will finance two data centres with an aggregate capacity of 67 MW that includes Chennai 1' campus with Phase-1 of 17 MW, and Noida campus of 50 MW.

"AdaniConneX achieved financial closure through its maiden construction facility by entering into Financing Framework, raising $213 million for its under-construction data centre asset portfolio," a statement said.

India is among the fastest-growing data centre markets in the world, and as per CRISIL estimates, the data centre capacity in India is expected to double from about 870 MW in FY22 to 1700-1800 MW by FY25.

"To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a 1 GW Green Data Centre platform, enabled by hyperscale to hyperlocal data centre investments across the country," the statement added.

The financing finalised through the framework agreement with international lenders will institutionalise the development agenda for AdaniConneX.

ING Bank NV, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility.

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"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 statement noted.

According to Jeyakumar Janakaraj, CEO of AdaniConneX, the construction facility is the key ingredient of AdaniConneX capital management plan, providing the pathway for the company to deliver on time a reliable and sustainable data centre capacity of 1 GW by 2030.

The construction facility will finance two data centre projects in Chennai (Tamil Nadu) and Noida (Uttar Pradesh), with customised enterprise co-location offerings and hyperscale solutions.

The Chennai 1' campus is Tamil Nadu's first pre-certified IGBC platinum-rated data centre providing customised co-location solutions to enterprise segments.

The Noida campus is being implemented to support the strategic expansion needs of hyperscale customers in India.