Adani Group will create a stir in this emerging sector, the company will raise 1.44 billion dollars for investment.
Adani Group is expanding its business in new sectors. Now the group is preparing to make big investments to strengthen its hold in the digital infrastructure sector. For this, the group has partnered with EdgeConnex. Under this, AdaniConnex, a joint venture between Adani Enterprises and EdgeConnex, has established the country’s largest sustainability linked financing to raise $1.44 billion. This information was given by the group on Sunday.
The transaction increases AdaniConnex’s construction funding pool to $1.65 billion. Earlier in June last year, the first manufacturing facility worth $213 million was built. Jayakumar Janakraj, CEO, AdaniConnex, said that this successful exercise is a testament to the collective resolve of both parties to meet the challenges of establishing sustainable and robust digital infrastructure, push forward the norms and set new industry benchmarks.
All these facilities will be there in the data center
The data center facilities to be built will utilize state-of-the-art technology and green energy solutions to minimize the ecological footprint while optimizing operational efficiency. The initial commitment of the new funding is $875 million, which is being expanded to $1.44 billion. “Construction financing is a key element of the AdaniConnex capital management plan, enabling us to deliver data center solutions firmly rooted in sustainable and environmental stewardship,” Janakraj said.
Agreements made with these lenders
The company said agreements have been signed 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. AdaniConnex aims to leverage the capabilities of Adani Group, one of the largest private data center operators, and Edge Connex to build a 1 gigawatt data center infrastructure platform that is beneficial to the environment.
