On Friday, the largest data centre financing deal in India was announced by AdaniConneX, a data centre provider and 50:50 joint venture (JV) between Adani Enterprises and EdgeConneX. In a regulatory filing, the business claimed that a number of institutions had agreed to collaborate with it on a financial framework, assisting it in raising $213 million for its data centres that are still under construction.
A total of 67 MW of capacity will be housed in two data centres that will be financed by the tied-up facility. This comprises the Noida campus’ 50 MW and the Phase 1 campus in Chennai 1, which both have 17 MW of power.
According to the company’s BSE filing, ING Bank NV, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility.
Jeyakumar Janakaraj, CEO of AdaniConneX, noted that the construction facility was a crucial component of the company’s capital management strategy because it gave them a clear path to completing a 1 GW dependable and sustainable data center by 2030.
In accordance with the filing, ING Bank NV, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation served as mandated lead arrangers and bookrunners (MLAB) for the transaction.
The business’ counsels were Allen & Overy and Saraf & Partners. Counsels for the banks were Cyril Amarchand Mangaldas and Clifford Chance.
“Through their involvement with AdaniConneX, we welcome the financial partners. “We are excited about our overall journey with Adani in India, which has started with a strong implementation plan and a tremendous customer pipeline that will quickly establish AdaniConneX as the leading digital infrastructure platform for the entirety of India,” said Edmund Wilson, chief operating officer and co-founder at EdgeConneX and director at AdaniConneX.
We are eager to play a crucial and important role in ushering in a digital revolution, leveraging Adani’s demonstrated infrastructure expertise and EdgeConneX’s data centre record.
