AdaniConneX is discussing about $1.5 billion in offshore financing for data-center expansion, Bloomberg reported Nov. 3; India’s government projects the sector could approach 8 gigawatts by 2030.
India’s Ministry of Electronics and Information Technology said the country had 1.57 gigawatts of data-center capacity as of August 2026. The ministry cited demand for artificial intelligence and high-performance computing in its projection. The government has also said data centers received infrastructure status in the 2022-23 budget, which facilitated access to credit.
Bloomberg reported that the proposed financing would support AdaniConneX’s expansion but did not specify how funds would be allocated among individual projects. It named DBS Group Holdings, First Abu Dhabi Bank, Mitsubishi UFJ Financial Group, Natixis, ING and Société Générale as banks involved in discussions. Pricing remains under discussion, and a term of five to seven years is being considered. Bloomberg said the terms are not final.
Separately, Adani Group announced plans for $100 billion in direct investment by 2035 in data centers powered by renewable energy and designed for AI workloads. The group described AdaniConneX’s existing platform as 2 gigawatts and said it aims to bring capacity toward 5 gigawatts. Its announcement did not identify the reported financing as a source for that plan.
CoreWeave has separately announced plans for three 80-megawatt buildings at AdaniConneX’s Taloja campus in Navi Mumbai. CoreWeave expects the initial capacity to come online in mid-2028. It said it would be the sole tenant and has an option to add up to 240 megawatts; its announcement did not connect the project to the financing talks.
AdaniConneX subsidiaries also availed a separate $800 million bridge facility for five data-center projects at Ellikatta, Telangana, according to lender counsel Cyril Amarchand Mangaldas. Bloomberg described that earlier facility as having an 18-month term. Neither source links it to the financing now under discussion. Bloomberg said DBS and First Abu Dhabi Bank declined to comment; Adani Group and the other named banks did not respond to its requests.
