AdaniConneX, the joint venture between Adani Enterprises (AEL) and EdgeConneX, has secured sustainability-linked financing of up to $1.44 billion, marking a significant milestone in the development of sustainable digital infrastructure in India. This agreement elevates AdaniConneX's construction financing pool to $1.65 billion, which includes its initial construction facility of $213 million executed in June 2023.

The financing package starts with an initial commitment of $875 million and features an accordion mechanism that can expand the pool up to $1.44 billion. The financing has been secured through agreements with prominent financial institutions including ING Bank NV, Intesa Sanpaolo, KfW IPEX, MUFG Bank, Natixis, Standard Chartered Bank, Société Générale, and Sumitomo Mitsui Banking Corporation.

AdaniConneX CEO Jeyakumar Janakaraj highlighted the collaboration's commitment to establishing sustainable and robust digital infrastructure, setting new industry benchmarks. The financing will support the company's capital management plan, facilitating the delivery of environmentally sustainable data center solutions.

The company is focused on a safety-first culture, with efforts to achieve world-class Power Usage Effectiveness (PUE) by embracing global best practices and leveraging renewable energy resources. This financing approach reinforces the company's strategy to rapidly implement portfolio assets in line with accelerating demand for digital infrastructure in India.

This significant funding supports AdaniConneX's vision of building a sustainable digital infrastructure that aligns with the nation's economic progress and digital growth. Legal support for the transaction was provided by Allen & Overy and Saraf & Partners for the borrower, while Milbank and Cyril Amarchand Mangaldas advised the lenders.

In June 2023, AdaniConneX secured $213 million from lenders to establish two data centers with a total capacity of 67 MW, one in Delhi with a 50 MW capacity and another in Chennai with 17 MW. This latest financing round represents a crucial step forward for the joint venture in its mission to advance India's digital transformation.