AdaniConneX
Adani JV secures $213 mln funding to finance data centers in Noida and Chennai
AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, has secured $213 million in funding to support its data center projects in Noida and Chennai, media reports said.
The financing comes from a group of banks including ING Bank, Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation, ET reported.
The funds will be used to develop two data centers with a combined capacity of 67 MW, including a 17 MW facility in Chennai and a 50 MW campus in Noida.
The Indian data center market has been growing rapidly, with installed capacity increasing from 540 MW in 2019 to over 800 MW in 2022.
Projections indicate that investments worth $5 billion will drive further growth, leading to a capacity of around 1,700 MW by 2025.
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