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AdaniConneX, a joint venture equally owned by Adani Enterprises and EdgeConneX of the US, has raised up to $1.44 billion (Rs 11,520 crore) for funding its upcoming green data centres, the company announced on Sunday.
The financing has an initial commitment of $875 million, with an accordion feature to extend commitment up to $1.44 billion. The transaction elevates AdaniConneX’s construction financing pool to $1.65 billion, building on the maiden construction facility of $213 million executed in June 2023, the company said in a statement.
"This successful exercise is a testament to the collective resolve of the parties to meet the challenges of establishing sustainable and robust digital infrastructure, thereby pushing norms and setting new industry benchmarks,” said Jeyakumar Janakaraj, CEO of AdaniConneX.
“Construction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data center solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey alongside our esteemed international banking partners,” he said.
The new data center 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 (PUE) by adopting global best practices, and leveraging renewable energy resources, the company said.
The new facility is touted as a solution of a syndicated guarantee-backed assurance programme in sync with the projects’ procurement strategy. The company has signed definitive agreements with eight international lenders – ING Bank N.V, Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Société Générale and Sumitomo Mitsui Banking Corporation.
Access to a wide pool of liquidity strengthens the company’s strategy to fast-track the implementation of portfolio assets in sync with accelerating demand. This transformative approach towards financing is a significant step towards building sustainable digital infrastructure that will fuel economic progress and accelerate India’s digital growth.
AdaniConneX plans to build an environmentally and socially conscious one gigawatt (GW) data center infrastructure platform by leveraging the complementary capacity of Adani Group, India’s largest infrastructure player, and EdgeConneX, one of the largest private data center operators.
