EdgeConneX, an Adani group joint venture, is in discussions with a consortium of global lenders to fund up to $400 million through an offshore loan, which may be the company’s second such transaction since June.

According to persons familiar with the subject who asked not to be identified because the topic is confidential, data center provider AdaniConneX confidential Ltd. will utilize the money to fund its growth goals this year, with a five-year term under consideration.

AdaniConnex raised $213 million in debt in June to construct two data centers with a combined capacity of 67MW, as part of the group’s intentions to invest approximately $1.5 billion in this industry over the next three years.

The company intends to construct nine data centers with a total capacity of one gigatonne by 2030. Around 17 MW of capacity is now running in Chennai, with more being built.

Also Read | Adani Group establishes a data center in Chennai

After dismissing US shortseller Hindenburg Research’s stinging charges of corporate malfeasance in January last year, the conglomerate has been restoring investor and lender trust. Bloomberg reported last month that the group’s renewable energy subsidiary wants to raise at least $2 billion in primarily new debt in 2024.

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