AdaniConneX Establishes India's Largest Sustainability Linked Financing To Raise Up To $1.44 Billion - Eastern Mirror
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AdaniConneX establishes India’s largest sustainability linked financing to raise up to $1.44 billion

6091
By IANS Updated: Apr 28, 2024 6:54 pm
AdaniConneX

AHMEDABAD — 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.

6091
By IANS Updated: Apr 28, 2024 6:54:05 pm
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