AdaniConneX seals largest data centre financing deal in India with $213mn construction financing facility
26 Jun, 2023 07:15 IST|Sakshi Post
New Delhi, June 23 (IANS) Adani ConneX achieved financial closure through its maiden construction facility by entering into Financing Framework, raising $213 million for its under-construction data centre asset portfolio.
The tied-up facility will finance two data centres with an aggregate capacity of 67 MW that includes 'Chennai 1' campus with Phase 1 of 17 MW and Noida campus of 50 MW.
India is one of the fastest-growing data centre markets in the world, and as per CRISIL estimates the data centre capacity in India is expected to double from ~870 MW in FY22 to 1700-1800 MW by FY25.
To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a 1 GW Green Data Centre platform, enabled by hyperscale to hyperlocal data centre investments across the country.
The Platform Infrastructure Financing finalized through the Framework Agreement with international lenders will institutionalize the development agenda for AdaniConneX.
ING Bank N.V., Mizuho Bank, Ltd., MUFG Bank, Ltd., Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility.
The access to the wide pool of liquidity strengthens AdaniConneX strategy to fast-track the implementation of the under-construction asset portfolio in sync with accelerating demand.
Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.
