In an exchange filing, the company said that AdaniConneX achieved financial closure through its maiden construction facility by entering into financing framework, raising $213 million for its under-construction data center asset portfolio.

The tied-up facility will finance two data centers with an aggregate capacity of 67 MW that includes ‘Chennai 1' campus with Phase 1 of 17 MW and Noida campus of 50 MW.

To address the growing need for reliable IT infrastructure, AdaniConneX is investing capital with a mission to build a 1 GW Green Data Center platform, enabled by hyperscale to hyperlocal data center investments across the country, said the company.

The platform infrastructure financing finalized through the framework agreement with international lenders shall institutionalize the development agenda for AdaniConneX.

ING Bank N.V., Mizuho Bank, MUFG Bank, Natixis, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have committed to the facility. The access to the wide pool of liquidity strengthens AdaniConneX strategy to fast-track the implementation of the under-construction asset portfolio in sync with accelerating demand, it added.

Jeyakumar Janakaraj, CEO of AdaniConneX, “The construction facility is the key ingredient of AdaniConneX capital management plan, providing the pathway for us to deliver on-time a reliable and sustainable data center capacity of 1 GW by 2030.”

The construction facility finances two data center projects in Chennai (Tamil Nadu) and Noida (Uttar Pradesh), with customized enterprise colocation offerings and hyperscale solutions. The ‘Chennai 1' campus with ‘Phase 1' 17 MW data center capacity is Tamil Nadu's first pre-certified IGBC1 Platinum Rated data center providing customized colocation solutions to enterprise segment.

The under-construction Noida campus is being implemented with a 50 MW capacity to support strategic expansion needs of hyperscale customers in India.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business organisations. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses. The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, roads, data center and water infrastructure.

On a consolidated basis, Adani Enterprises reported a 137.41% increase in net profit to Rs 722.48 crore in Q4 FY23 over Q4 FY22, while revenue from operations grew by 26.06% to Rs 31,346.05 crore.

Shares of Adani Enterprises tumbled 6.10% to Rs 2,249.65 on the BSE.