AdaniConneX Pvt Ltd is in advanced discussions to raise approximately $1.5 billion through an offshore loan facility. The proceeds will fund expansion of data center capacity in India as part of the Adani Group's commitment to invest $100 billion by 2035 in renewable-powered, AI-ready infrastructure.
Loan structure and participating banks
The proposed facility involves a 5-to-7-year tenor with pricing still under negotiation. Key lenders include DBS Group Holdings, First Abu Dhabi Bank, and Mitsubishi UFJ Financial Group, while Natixis, ING Bank, and Société Générale are also in talks. This marks the second major financing round for AdaniConneX in 2026, following an $800 million, 18-month facility completed earlier in the year at roughly 200 basis points over SOFR.
The new loan will support scaling of operational capacity from the current level above 1 GW toward a 5 GW target. Sites already contributing include Hyderabad at approximately 600 MW and Pune at 250 MW. Pipeline projects comprise a 1 GW campus under construction in Visakhapatnam and a planned 1 GW development in Navi Mumbai.
India data center market context and Adani partnerships
National data center capacity stood at 1.57 GW as of August 2026 according to Ministry of Electronics and Information Technology figures. Industry estimates from Crisil and government-linked sources project growth to 7.5–8 GW by 2030, with the sector potentially attracting around $200 billion in cumulative investment over the next seven to eight years driven by AI and cloud demand.
AdaniConneX operates as a 50:50 joint venture between the Adani Group and EdgeConneX. The financing builds on existing collaborations, including a gigawatt-scale campus with Google in Visakhapatnam, Microsoft projects in Hyderabad and Pune, and a 240 MW agreement with CoreWeave in Navi Mumbai. The broader Adani push places the group in direct competition with Reliance Industries, which has outlined plans for up to $110 billion in AI infrastructure spending.
Next steps for AdaniConneX data center financing
Loan size, pricing, and allocation remain fluid pending final documentation. No closing date has been confirmed. For decision makers evaluating exposure to India AI infrastructure, the transaction signals continued institutional appetite for large-scale data center debt at competitive margins. Investors and operators monitoring capacity additions should track final terms once released, as they will set benchmarks for subsequent facilities in the market.
Frequently asked questions
Which banks are involved in the AdaniConneX loan discussions?
Discussions center on DBS Group Holdings, First Abu Dhabi Bank, and MUFG, with additional talks underway involving Natixis, ING Bank, and Société Générale.
How does the new facility compare with AdaniConneX's earlier 2026 borrowing?
The proposed $1.5 billion loan follows an $800 million, 18-month facility completed at approximately 200 basis points over SOFR; the new facility targets a longer 5-to-7-year tenor.
What capacity targets does the financing support?
Funds aim to increase AdaniConneX capacity from the current level above 1 GW toward 5 GW, including projects in Visakhapatnam and Navi Mumbai.
What is the broader investment context for Adani's data center plans?
The Adani Group targets $100 billion by 2035 for digital infrastructure, competing with Reliance Industries' announced plans of up to $110 billion in the same sector.
By YasTech Editorial
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