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April 28, 2024

AdaniConneX Secures $1.4 Billion Investment to Fuel Green Data Center Expansion

AdaniConneX, a joint venture equally owned by Adani Enterprises and EdgeConneX of the US, has secured a substantial investment of up to $1.44 billion (~11,520 crore) to propel its ambitious plans for green data centers, the company announced on Sunday.

The financing comprises an initial commitment of $875 million, with the flexibility to extend it up to $1.44 billion, showcasing the confidence of investors in the project. This transaction boosts AdaniConneX’s construction financing pool to $1.65 billion, following its maiden construction facility of $213 million executed in June 2023.

Jeyakumar Janakaraj, CEO of AdaniConneX, hailed the successful fundraising as a testament to the collective commitment of the parties involved in establishing sustainable and robust digital infrastructure. He emphasized, “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.”

The upcoming data center facilities will utilize state-of-the-art technologies and renewable energy solutions to minimize ecological footprint while optimizing operational efficiency. This sustainability-focused approach reinforces AdaniConneX’s dedication to driving a safety-first culture, achieving world-class power usage effectiveness (PUE), and leveraging renewable energy resources.

Moreover, the new facility is supported by a syndicated guarantee-backed assurance program in alignment with the projects’ procurement strategy. AdaniConneX has inked definitive agreements with eight international lenders, including ING Bank N.V, Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Société Générale, and Sumitomo Mitsui Banking Corporation.

Access to such a wide pool of liquidity strengthens the company’s strategy to accelerate the implementation of portfolio assets in line with the escalating demand. This transformative financing approach marks a significant step towards building sustainable digital infrastructure that will fuel economic progress and accelerate India’s digital growth.

AdaniConneX’s vision includes the development of an environmentally and socially conscious one gigawatt (GW) data center infrastructure platform. Leveraging the complementary capacities of Adani Group, India’s largest infrastructure player, and EdgeConneX, one of the largest private data center operators, the company aims to set new industry benchmarks.

By integrating cutting-edge technologies with renewable energy solutions, AdaniConneX seeks to redefine the landscape of digital infrastructure in India. This endeavor aligns with the nation’s push towards sustainable development and underscores the importance of private sector initiatives in driving environmental stewardship.

As India marches towards a digital future, initiatives like AdaniConneX’s green data centers not only contribute to mitigating environmental impact but also create opportunities for economic growth and innovation. With this substantial investment, AdaniConneX is poised to lead the way in sustainable digital infrastructure, setting a precedent for the industry as a whole.

Jhumpa Lahiri

Jhumpa Lahiri

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