AdaniConneX Raises ₹8.2 Crore For Data Centers In India
AdaniConneX, a joint venture between the Adani Group and EdgeConneX, has secured a significant financing deal worth $213 million for the construction of two data centers in India.
The funding will support the development of data center projects in Chennai and Noida, offering customized colocation services and hyperscale solutions.
The Chennai facility, known as “Chennai 1,” will have a capacity of 17 MW and is the first pre-certified IGBC Platinum Rated data center in TamilNadu, catering to enterprise clients.
The financing deal represents AdaniConneX’s maiden construction facility, enabling the company to raise capital for its ongoing data center projects. The two data centers combined will have a total capacity of 67 MW, with the Noida campus accounting for 50 MW.
The Indian data center market is experiencing rapid growth, and CRISIL estimates project a doubling of data center capacity in India from approximately 870 MW in FY22 to 1700-1800 MW by FY25.
AdaniConneX aims to address the increasing demand for reliable IT infrastructure by investing in the development of a 1 GW Green Data Center platform.
The company plans to establish a robust data center presence across India, leveraging both hyperscale and hyperlocal investments.
International lenders, including ING Bank, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation, have committed to the financing facility, institutionalizing AdaniConneX’s development agenda.
The partnership with these lenders provides the company with access to a significant pool of liquidity, facilitating the accelerated implementation of its data center projects to meet the rising demand.
Jeyakumar Janakaraj, CEO of AdaniConneX, expressed the importance of the construction facility in realizing their capital management plan and delivering a reliable and sustainable data center capacity of 1 GW by 2030.
The financing deal represents a significant milestone in AdaniConneX’s transformative initiative, set to revolutionize India’s digital infrastructure.
Anil Sardana, Director of AdaniConneX, highlighted the company’s commitment to a pan-India Data Center platform and emphasized their focus on delivering clean and renewable energy solutions for a carbon-neutral footprint.
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AdaniConneX aims to leverage Adani’s expertise in energy management and renewable power, combined with EdgeConneX’s data center capabilities, to drive a digital revolution in India.
The construction facility will support the development of the data centers in the country, providing customized colocation offerings and hyperscale solutions to meet the growing demands of enterprise and hyperscale customers in India.