AdaniConneX, a 50:50 joint venture between ports-to-power conglomerate Adani Enterprises Ltd and data centre provider EdgeConneX, has secured a $213 million senior debt facility with participation from international banks to finance their under-construction data centre portfolio of 67 MW in Noida and Chennai, the two entities said in a joint press statement on Friday.
The project includes the ‘Chennai 1’ campus with phase 1 of 17 MW and Noida campus of 50 MW.
“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 Mr Jeyakumar Janakaraj, chief executive of AdaniConneX.
This comes as a shot in the arm for India, which is touted as one of the fastest growing data centre markets in the world. Ratings agency ICRA has predicted a six-fold increase in India’s data centre capacities in the next six years. It sees 4,900-5,000 MW of capacity involving investments of about Rs 1.50 lakh crore being added in the period.
ING Bank NV, Mizuho Bank Ltd, MUFG Bank Ltd, Natixis, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation were the mandated lead arranger, bookrunner in the deal. Allen & Overy and Saraf & Partners were the borrower’s counsels. The lenders’ counsels included Clifford Chance and Cyril Amarchand Mangaldas.