Adani JV to finance data centres in Noida and Chennai

26 Jun 2023 CW Team

AdaniConneX, a 50:50 joint venture between Adani Enterprises and EdgeConneX (ECX), has raised $213 million to finance its under-construction data centre portfolio of 67 MW in Noida and Chennai. ING Bank N.V., Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility.

The tied-up facility will finance two data centres with an aggregate capacity of 67 MW that includes ‘Chennai 1’ campus with Phase 1 of 17 MW and Noida campus of 50 MW. As per CRISIL estimates, the data centre capacity in India is expected to double from around 870 MW in FY22 to 1700-1800 MW by FY25.

“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, CEO of AdaniConneX.

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