AdaniConneX raises $213 mn for setting up 2 data centres in Chennai, Noida

Joint venture says Indian and international banks have committed financing for the project

AdaniConneX, a 50:50 joint venture between Adani Enterprises Ltd (AEL) and EdgeConneX (ECX), said on Friday it has raised $213 million for two data centres being constructed in Chennai and Noida..

ING Bank NV, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation have committed financing for the centres that will have an aggregate capacity of 67 MW.

“The construction facility is the key ingredient of AdaniConneX capital management plan, providing the pathway for us to deliver on-time a reliable and sustainable data center capacity of 1 GW by 2030,” said Jeyakumar Janakaraj, chief executive officer of AdaniConneX.

India is one of the world’s fastest-growing data centre markets and capacity here is expected to double from approximately 870 MW in FY22 to 1700-1800 MW by FY25, according to CRISIL’s estimates.

“We are committed to delivering a pan-India Data Center platform,” said Anil Sardana, director of AdaniConneX (Adani representative on the joint venture’s board). “The facility shall encourage overall implementation philosophy to power the digital infrastructure by delivering clean and long-term renewable energy solutions aiming toward a carbon-neutral footprint.”

“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 at AdaniConneX (chief operating officer and co-founder, edgeconnex).

The ‘Chennai 1’ campus, which has ‘Phase 1’ 17 MW capacity, is Tamil Nadu’s first pre-certified IGBC Platinum-Rated data centre providing customized solutions for the enterprise segment. The under-construction Noida campus is being implemented with a 50 MW capacity to support strategic needs of hyper-scale customers in India.