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AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, has secured India’s largest sustainability-linked financing, reaching up to $1.44 billion, with an initial commitment of $875 million. This substantial financial boost increases AdaniConneX’s total construction financing to $1.65 billion, following a previous $213 million facility obtained in June 2023.
The newly acquired funds will be directed towards the development of data center facilities that incorporate cutting-edge technologies and renewable energy sources. This initiative is part of AdaniConneX’s broader strategy to enhance environmental sustainability and operational efficiency in its data center operations.
To support its project procurement strategy, AdaniConneX has also set up a syndicated guarantee-backed assurance program. This program is backed by definitive agreements with eight leading global banks, including ING Bank N.V., Intesa Sanpaolo, KfW IPEX, MUFG Bank Ltd., Natixis, Standard Chartered Bank, Société Générale, and Sumitomo Mitsui Banking Corporation.
Jeyakumar Janakaraj, CEO of AdaniConneX, highlighted the crucial role of this financing in expanding India’s digital infrastructure sustainably. He stated that this initiative is key to setting new industry standards and fostering India’s digital growth.
The legal aspects of the financing deal were handled by Allen & Overy and Saraf & Partners for AdaniConneX, while Milbank and Cyril Amarchand Mangaldas advised the lenders. This financial milestone marks a significant advancement in the creation of sustainable and robust digital infrastructure in India. |
