AdaniConnex has secured a $1.44bn financing framework to build sustainable digital infrastructure amid India’s accelerating demand for data centres
The company, which is a 50:50 joint venture between infrastructure multinational Adani Group and data centre operator EdgeConneX, said the definitive agreements with eight international lenders represent India’s largest sustainability-linked digital infrastructure financing.
The framework has an initial commitment of $875m, with a feature to extend the commitment up to $1.44bn. The transaction brings AdaniConneX’s construction financing pool to $1.65bn.
AdaniConneX plans to boost India’s digital infrastructure by delivering 1GW of data centre capacity over the next decade.
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, it said.
The planned data centres will combine state-of-the-art technologies with renewable energy solutions to minimise their ecological footprint while optimising operational efficiency.
A key feature of the facility is a syndicated guarantee-backed assurance programme in sync with the projects’ procurement strategy.
“Setting new industry benchmarks”
Jeyakumar Janakaraj, CEO of AdaniConneX, said: “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.
“Construction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data centre solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey alongside our esteemed international banking partners.”
The eight international lenders include ING Bank, Intesa Sanpaolo, KfW IPEX, MUFG Bank, Natixis, Standard Chartered Bank, Société Générale and Sumitomo Mitsui Banking Corporation.
