Adani Expands to Data Centres: Raises Money From Global Lenders

Adani Enterprises Ltd. which is the flagship arm of the Adani Group led by  Billionaire Gautam Adani is aiming to expand their data centre business, The Adani Enterprises Ltd. and EdgeConnex are looking to invest around $5Billion for the next 5 years, to develop 1GW of data centre capacity before 2030. It is in talks with several international banks to raise around $1.2 Billion for an overseas loan.

About AdaniConneX

AdaniConneX is a 50:50 Joint Venture of the Adani Group and EdgeConneX which has been established to develop a 1GW national data centre platform. It has a presence in Chennai, Noida, Hyderabad and Navi Mumbai, The company is building a network of data centre facilities powered with 100% renewable energy. AdaniConneX is in plans to develop nine data centres with a capacity of 1 Gigawatt by 2030.

AdaniConneX till now has only 1 operational data centre which is in Chennai and has also completed almost two-thirds of the construction in the Noida and Hyderabad facilities.

What Has Been Said?

AdaniConneX on Sunday said that it has secured financing from lenders of $1.4Billion from lenders, The company has said that this financing has an initial commitment of $875 Million and this comes with a feature to extend this commitment to $1.4 Billion, It further said that this would increase AdaniConneX’s construction financing pool to $1.65 Billion, building on the maiden construction facility of $213 Million that was executed in June last year. Further AdaniConneX said that,” The upcoming data centre facilities will employ state-of-the-art technologies and renewable energy solutions to minimise the ecological footprint while optimising operational efficiency.”

For this Loan, agreements were executed with several international lenders which include ING Bank NV, Intesa Sanpaolo, MUFG Bank Ltd and others.

Conclusion: The Company plans to expand in the data centre field by building 9 data centres which will further provide infrastructure for the growing demand for digital services, Access to a wide pool of liquidity will strengthen the company’s strategy to fast-track the implementation of the portfolio assets in sync with accelerating demand. This Construction financing plays a core element of the AdaniConneX capital management plan, that will enable them to deliver a data centre solution firmly rooted in sustainability and environmental administration.

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