Adani Group Eyes $1.5 Bn Loan to Accelerate Data Centre Expansion

The Adani Group is in discussions to raise about $1.5 billion through an offshore loan to support the expansion of its data centre business, according to reports citing people familiar with the matter.

Sources said AdaniConneX, Adani Group's data centre venture with EdgeConneX, is in talks with a consortium of lenders, including DBS Group, First Abu Dhabi Bank and Mitsubishi UFJ Financial Group, for a proposed offshore loan facility.

Key Highlights

• AdaniConneX, the group's data centre joint venture with EdgeConneX, is reportedly negotiating with lenders including DBS Group, First Abu Dhabi Bank (FAB), and Mitsubishi UFJ Financial Group (MUFG).
• Additional discussions are said to involve Natixis, ING Bank, and Société Générale.
• The proposed loan could have a five-to-seven-year tenor, although pricing and final terms have not yet been agreed.
• The financing aligns with Adani's broader plan to invest around $100 billion in data centres and other digital infrastructure by 2035.
• The move comes after AdaniConneX reportedly secured an $800 million data centre loan earlier.

Why It Matters

India's data centre industry is expanding rapidly as demand for artificial intelligence (AI) and cloud computing infrastructure grows.

Government projections cited in reports suggest that India's data centre capacity could rise to nearly 8 GW by 2030, up from roughly 1.57 GW previously.

The funding effort also underscores intensifying competition among major Indian conglomerates.

• Adani Group plans to invest about $100 billion in data centres and digital infrastructure by 2035.
• Reliance Industries is also investing heavily in AI-related infrastructure, highlighting the race among India's largest business groups to build capacity for next-generation digital services.
• The rapid expansion of AI applications and cloud computing is expected to drive substantial investments into India's data centre ecosystem over the coming years.