India's Adani JV Secures US$1.4bn to Build Data Centres
An equal joint venture begins in India, between Adani Enterprises and private data centre operator EdgeConneX, after securing financing from lenders of up to US$1.44bn, to build data centres. AdaniConneX, the joint venture, last year raised US$213m to fund data centres under construction.
Adani Enterprises and the future of data consumption
As the world’s most populous country and with 900m internet users, India has a great need for data centre companies which is why we chose India for our: Top 10 Emerging Global Data Centre Markets.
Mumbai has the largest share of India’s data centres. In fact, according to JLL’s market report, around 60% of the total additional capacity that is added in India over the next five years is predicted to be in Mumbai.
According to Adani, as India’s internet economy continues to be growing, there is a need to build data centres to ensure seamless data consumption and efficient storage. 19% of the world's children live in India, with 480m being under the age of 18. In the generation of digital natives, when they grow up, they will want to access the internet and social media for entertainment, as well as education, work, dating, shopping and more. India’s data centres must be ready for them and Adani Enterprises will be.
- Complete ownership of large land parcels across the country
- Project management capabilities and resources availability
- End-to-end power value chain
- Fibre connectivity and strong network connectivity
- Renewable Power generation to ensure sustainability
- Strong Policy advocacy credentials
AdaniConneX is enhancing data centre construction efforts
Adani plans to build Data Centers in Mumbai, Chennai and Hyderabad. In a statement, the firm spoke about the fundraising.
“Financing has an initial commitment of US$875m, with an accordion feature to extend commitment up to US$1.44bn. The transaction raises AdaniConneX’s construction financing pool to US$1.65bn, building on the maiden construction facility of US$213m executed in June 2023.”
AdaniConnex, which has just one operational data centre in Chennai, has completed more than half of the construction in the Noida and Hyderabad facilities.
“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,” the company said in a statement. “The sustainability-linked financing reinforces AdaniConneX’s commitment towards driving a safety-first culture, delivering world-class Power Usage Effectiveness by adopting global best practices, and leveraging renewable energy resources.”
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