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AdaniConneX, a new Data Center Joint Venture formed Between Adani Enterprises and EdgeConneX, to Empower Digital India

Posted On: 2021-02-22 20:27:29 (Time Zone: Arizona, USA)


Adani Enterprises, the flagship company of the Adani Group, one of India's largest multi-infrastructure organizations and EdgeConneX, a leading global data center operator with 50 facilities in 30 markets around the world, today announced the establishment of a 50:50 joint venture. The JV will develop and operate data centers throughout India, leveraging the two partners complementary expertise and capabilities. To address the rapidly growing need for high- quality and reliable IT infrastructure both organizations are committed to investing significant capital into the joint venture over the next decade to build out India's leading green data center platform.

In addition to full scale data centers, AdaniConneX will also develop a portfolio of Edge data centers strategically located throughout India that will support the need for more proximate capacity. These Edge sites are designed and planned to easily scale with demand and become full scale data center campuses. Importantly, this pan-Indian platform of hyperscale and hyperlocal data centers will largely be powered by renewable energy.

As a trusted provider of data center solutions to some of the largest and most demanding service providers in the world, EdgeConneX brings extensive data center expertise and industry-leading technology solutions to the venture.

"In Adani, we have the ideal partner in India," said Randy Brouckman, CEO of EdgeConneX. "They possess the necessary capabilities and unique expertise in India required to build out critical digital infrastructure that can best support our customers across the entire country. We look forward to investing in the digital economy of India and meeting our customers' needs throughout the region in collaboration with Adani."

The partnership will leverage Adani's expertise in full-stack energy management, renewable power and real estate development, as well as its experience in building and managing large infrastructure projects throughout India.

"One of the best manifestations of our Honorable Prime Minister's Digital India vision is the speed with which the entire Indian population has come online and the subsequent continued exponential growth in data consumption," said Gautam Adani, Chairman of the Adani Group. "India currently has one of world's largest data subscriber population and to address the need for a reliable infrastructure to support Cloud, Content, Network, IoT, 5G, AI and enterprise requirements, data centers are a fundamental infrastructure need of a nation. The Adani Group brings to the table a unique combination of green power, real estate expertise, access to undersea cable landing stations, and several nodes across the country that will serve as edge locations. In addition to EdgeConneX's domain expertise and cutting-edge technology in the data center business, we have been very impressed with the agility they bring to the joint venture."

The AdaniConneX JV will focus on building a network of hyperscale data centers in India, starting with the Chennai, Navi Mumbai, Noida, Vizag and Hyderabad markets. Development and construction at these sites have already begun.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.805.65 as compared to the previous close of Rs. 781.4. The total number of shares traded during the day was 542942 in over 7401 trades.

The stock hit an intraday high of Rs. 812.7 and intraday low of 781. The net turnover during the day was Rs. 432734535.


Source: Equity Bulls

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