IANS | 28 Apr, 2024
In a bid to accelerate digital infrastructure growth in India,
AdaniConneX, a JV between Adani Enterprises and EdgeConneX, on Sunday
said it has established the country’s largest sustainability-linked
financing to raise up to $1.44 billion.
The transaction elevates
AdaniConneX’s construction financing pool to $1.65 billion, building on
the maiden construction facility of $213 million executed in June last
year.
“This successful exercise is a testament to the collective
resolve of the parties to meet the challenges of establishing
sustainable and robust digital infrastructure, thereby pushing norms and
setting new industry benchmarks,” said Jeyakumar Janakaraj, CEO of
AdaniConneX.
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 new financing has an initial commitment of $875 million, with an accordion feature to extend commitment up to $1.44 billion.
“Construction
financing is a core element of the AdaniConneX capital management plan,
enabling us to deliver a data centre solution firmly rooted in
sustainability and environmental stewardship,” Janakaraj added.
According
to the company, a key feature of the data centre facility is the
innovative solution of a syndicated guarantee-backed assurance programme
in sync with the projects’ procurement strategy.
The agreements
have been executed with eight international lenders -- ING Bank N.V.,
Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered
Bank, Societe Generale and Sumitomo Mitsui Banking Corporation, informed
the company.
AdaniConneX aims to build an environmentally and
socially conscious 1GW data centre infrastructure platform by leveraging
the complementary capacity of the Adani Group and EdgeConneX, one of
the largest private data centre operators.