An equal joint venture between Adani Enterprises and private data centre operator EdgeConneX said on Sunday it has secured financing from lenders of up to $1.44 billion to build data centres. AdaniConneX, the joint venture, last year raised $213 million to fund data centres under construction.
Adani Enterprises, the flagship of billionaire Gautam Adani-run conglomerate, is investing around $1.5 billion in its fledgling data centre business in the next three years. Its joint venture with EdgeConnex plans to build nine data centres with a total capacity of 1 gigawatt by 2030 to provide infrastructure for the booming digital services demand.
In a statement, the firm said the “financing has an initial commitment of $875 million, with an accordion feature to extend commitment up to $1.44 billion.”
“The transaction raises AdaniConneX’s construction financing pool to $1.65 billion, building on the maiden construction facility of $213 million executed in June 2023,” it said.
AdaniConnex, which has only one operational data centre in Chennai so far, has completed almost two-thirds of the construction in the Noida and Hyderabad facilities.
“The upcoming data centre facilities will employ state-of-the-art technologies and renewable energy solutions to minimise the ecological footprint while optimising operational efficiency.
“The sustainability-linked financing reinforces AdaniConneX’s commitment towards driving a safety-first culture, delivering world-class Power Usage Effectiveness by adopting global best practices, and leveraging renewable energy resources,” it added.
A key feature of the facility is the innovative solution of a syndicated guarantee-backed assurance programme in sync with the procurement strategy.
Definitive agreements have been executed with eight international lenders — ING Bank NV, Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd, Natixis, Standard Chartered Bank, Societe Generale, and Sumitomo Mitsui Banking Corporation.