AdaniConneX Secures Record $1.44 Billion Financing for Sustainable Data Centre Construction
AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, has made a significant stride in India’s digital infrastructure landscape by securing a landmark sustainability-linked financing of up to USD 1.44 billion. This financing, announced in a recent press release, includes an initial commitment of USD 875 million, with the potential to extend the commitment to the full amount.
AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, has made a significant stride in India’s digital infrastructure landscape by securing a landmark sustainability-linked financing of up to USD 1.44 billion. This financing, announced in a recent press release, includes an initial commitment of USD 875 million, with the potential to extend the commitment to the full amount.
The financing marks India’s largest sustainability-linked funding in the data centre sector, reinforcing AdaniConneX’s commitment to environmentally conscious practices. The venture aims to leverage cutting-edge technologies and renewable energy solutions to minimize ecological impact while maximizing operational efficiency.
With this development, AdaniConneX’s construction financing pool now stands at USD 1.65 billion, following a previous facility of USD 213 million established in June 2023. The upcoming data centre facilities are poised to set new industry standards, incorporating state-of-the-art infrastructure and sustainable practices.
Definitive agreements have been reached with eight international lenders, including ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Societe Generale, and Sumitomo Mitsui Banking Corporation. These institutions, acting as Mandated Lead Arrangers and Structuring Banks, underscore the collaborative effort to drive sustainable digital infrastructure growth in India.
Jeyakumar Janakaraj, CEO of AdaniConneX, expressed confidence in the project’s success, stating, “This successful financing exercise reflects our commitment to establishing robust and sustainable digital infrastructure. We are proud to partner with esteemed international banks in this journey, setting new industry benchmarks along the way.”
The legal aspects of the financing were handled by Allen and Overy and Saraf and Partners as borrower’s counsels, with Milbank and Cyril Amarchand Mangaldas serving as lenders’ counsels. The involvement of such reputable legal firms further emphasizes the strategic significance of this financing endeavor.
Sources By Agencies
About The Author
