It sees an initial commitment for $875 million, which may be extended up to $1.44 billion. The deal significantly increases the capital available to AdaniConneX to build new facilities, after its maiden raise of $213 million in June 2023.
The financing is the largest sustainability linked raise in India’s history, according to the companies.
AdaniConneX said the financing reinforced its commitment to driving a safety-first culture and delivering world-leading power usage effectiveness (PUE).
The new data centres will leverage renewable energy sources, and employ “state of the art" technologies, the company said.
While AdaniConneX did not reveal specifically how the financing is tied to sustainability objectives, it did say a key feature of the facility is the innovative solution of a syndicated guarantee-backed assurance programme in sync with the projects’ procurement strategy.
Definitive agreements have been executed with eight international lenders, ING Bank, Intesa Sanpaolo, KfW IPEX, MUFG Bank, Natixis, Standard Chartered Bank, Société Générale and Sumitomo Mitsui Banking Corporation.
“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,” said Jeyakumar Janakaraj, CEO of AdaniConneX.
