Adani Group to seek $1.5 bn for data center funding
AdaniConneX joint venture in talks with DBS, First Abu Dhabi Bank, and MUFG for offshore facility
Quick Look
- Adani Group is negotiating a $1.5 billion offshore loan through its AdaniConneX joint venture with EdgeConneX to finance data center expansion, with lenders including DBS, First Abu Dhabi Bank, and MUFG.
- The group plans $100 billion in digital infrastructure investment by 2035, while Reliance plans up to $110 billion in AI infrastructure over seven years.
AI-generated summary
Why It Matters
Adani Group plans to invest about $100 billion in data centers and other digital infrastructure by 2035, building on its energy business. Reliance plans up to $110 billion over seven years into AI-related infrastructure. The government expects data center capacity to surge to nearly 8 gigawatts by 2030 from about 1.57 gigawatts in August 2026, with roughly $200 billion of potential investment into the sector over the next seven to eight years.
Adani Group, controlled by India's richest man Gautam Adani, is seeking to borrow about $1.5 billion to help finance its expansion into data centers, according to people familiar with the matter.
AdaniConneX Pvt., a joint venture with data center operator EdgeConneX, is in talks with lenders including DBS Group Holdings Ltd., First Abu Dhabi Bank PJSC and Mitsubishi UFJ Financial Group Inc. for the offshore facility, the people said, asking not to be identified discussing private information.
Adani Group plans to invest about $100 billion in data centers and other digital infrastructure by 2035, building on its sprawling energy business. Billionaire Mukesh Ambani's Reliance conglomerate also plans to plow as much as $110 billion over seven years into artificial intelligence-related infrastructure.
The broader push is fueling a surge in India's data center market as conglomerates race to build the computing capacity required for AI and cloud services. The government expects capacity to surge to nearly 8 gigawatts by 2030 from about 1.57 gigawatts in August 2026, while the country could draw roughly $200 billion of investment into the sector over the next seven to eight years, local media reported.
The Adani conglomerate is also holding talks with other lenders including Natixis SA, ING Bank NV and Societe Generale SA for the latest financing, the people said. Discussions over pricing are taking place and the loan could have a tenor of five to seven years, they said. The terms haven't been finalized.
DBS and FAB declined to comment while the Adani Group, MUFG, Societe Generale, Natixis, ING did not reply to emails seeking comment.
Adani's latest funding drive comes months after AdaniConneX secured an $800 million data center loan, which had an 18-month duration.
What to Watch
AI outlook — possibilities, not facts
AdaniConneX will finalize the $1.5 billion offshore loan with participating lenders
Likely · Within weeks
India's data center capacity will grow toward the government's target of nearly 8 gigawatts by 2030
Likely · Within years
Open Questions
- Which lenders will ultimately participate in the $1.5 billion facility?
- What will the final pricing and tenor of the loan be?
- When will AdaniConneX begin construction on new data centers?
