en.Wedoany.com Reported - The International Finance Corporation (IFC) announced a $371 million investment in data center operator Sify Technologies to develop two next-generation data centers with a total capacity of 103 megawatts in Navi Mumbai and Chennai.
The financing package is directed at Sify Infinit Spaces Limited (SISL), a wholly owned subsidiary of Sify Technologies Limited, and includes a $71 million (INR 6.75 billion) direct loan along with an additional $300 million in debt mobilization to support SISL's business growth and expansion in India. SISL serves enterprise clients and hyperscale cloud service providers in India and globally through its 14 data centers operating across the country.
The IFC stated that the proposed data centers will differ from traditional facilities by adopting advanced energy-efficient cooling systems, operating on renewable energy, and being specifically designed to support artificial intelligence workloads. These data centers will be built to the Platinum certification standards of the Indian Green Building Council (IGBC).
India accounts for 20% of global data consumption, with over 1.2 billion mobile users and more than 1 billion internet users. Relative to its installed data center capacity, India holds a disproportionate share of global data generation.
The IFC noted that this investment aligns with the World Bank Group's Country Partnership Framework for India, which focuses on building resilient infrastructure and enhancing productivity, and also complements the World Bank Group's broader efforts to support India's digital transformation. Vikram Kumar, IFC's Regional Industry Director for Infrastructure and Natural Resources in Asia-Pacific, stated that through this investment, the IFC is helping strengthen and expand India's digital ecosystem to support growing demand for cloud and AI services and promote digital inclusion. Additionally, the investment supports climate change mitigation by funding new data centers built to IGBC Platinum energy efficiency international best practices.
India's data center capacity is estimated to grow from the current 1,500 megawatts to 9,000 megawatts by 2030. By 2030, the sector's share of India's total electricity consumption is expected to rise from less than 1% currently to approximately 3%.
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