AdaniConneX Raises $1.44 Billion in Green Financing for Data Centers

This benchmark framework saw participation from eight international lenders


AdaniConneX, a data center solutions provider and a joint venture between Adani Enterprises and EdgeConneX, has established sustainability-linked financing to raise $1.44 billion to fund its renewable-powered data centers and enable digital infrastructure growth in the country.

The company said the upcoming data center facilities would leverage technologies and renewable energy solutions to minimize the ecological footprint while optimizing operational efficiency.

With an initial commitment of $875 million, the financing has an accordion feature to extend the commitment to $1.44 billion. With this, AdaniConneX’s construction financing pool stands at $1.65 billion, in addition to the initial construction facility of $213 million executed last June.

According to a press release by the company, the facility is a solution to a syndicated guarantee-backed assurance program that is in tandem with the projects’ procurement strategy. The company executed definitive agreements for the financing with eight international lenders such as ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank, Natixis, Standard Chartered Bank, Societe General, and Sumitomo Mitsubishi Banking Corporation (SBMC).

The company has plans to build an environmentally and socially conscious 1 GW data center infrastructure platform. Given the accelerating demand, this access to a wide pool of liquidity will bolster the company’s strategy to fast-track the implementation of portfolio assets.

“Construction financing is a core element of the AdaniConneX capital management plan, enabling us to deliver a data center solution firmly rooted in sustainability and environmental stewardship. We are delighted to embark on this journey with our esteemed international banking partners,” said Jayakumar Janakaraj, CEO of AdaniConneX.

This also aligns with AdaniConneX’s efforts to drive a safety-first culture, delivering world-class Power Usage Effectiveness (PUE) by adopting best global practices and leveraging renewable energy resources, the release said.

Last month, a $409 million green bond issued by Adani Green Energy received bids amounting to nearly $3 billion.

This comes five years after the Adani group partnered with U.S. firms to establish green energy-powered data centers in India.