Gautam Adani’s Adani Enterprises will spend around $1.5 billion on its fledgling data center business in the next three years. The annual capital expenditure on the data center business, called AdaniConnex — a joint venture with the global data center provider EdgeConnex Inc. — is expected to be about $500 million this year as well as the next two years.
The company is planning to build nine data centers and targeting a total capacity of 1 gigawatt by 2030. This will facilitate the flourishing digital services demand in the country.
At present, AdaniConnex has one operational data center in Chennai. The company has completed almost two-thirds of the construction in the Noida and Hyderabad facilities, according to a Nov. 2 investor presentation.
The phase 2 development of Chennai data center is already underway while land acquisition is going on for Hyderabad and Navi Mumbai. The joint venture firm raised $213 million debt in June.
For Adani Enterprises, the data center unit is a new business.
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