New Delhi, IFC, a World Bank Group arm, on Thursday said it has committed USD 371 million to Sify to support the expansion of data centres and strengthen the digital economy through a sustainability-linked loan.
International Finance Corporation (IFC) announced a partnership with Sify Infinit Spaces Ltd (SISL), a wholly-owned subsidiary of Sify Technologies Ltd, to promote the development of AI-ready, energy-efficient data centre infrastructure in India.
The sustainability-linked investment will support SISL, a leading Indian data centre operator, in developing two next-generation data centres in Navi Mumbai and Chennai, with a combined capacity of 103 MW, specifically built for AI-ready workloads, while bringing in jobs to add a multiplier effect to the local economy, IFC said in a statement.
India is one of the world’s fastest-growing digital economies, with 20 per cent of global data consumption, more than 1.2 billion mobile subscribers and over 1 billion internet users, it said.
Rapid growth in cloud adoption, AI applications, digital commerce, financial services, and 5G connectivity is driving unprecedented demand for data centre capacity, it said.
Expanding modern, resilient, and sustainable digital infrastructure is essential to support productivity, innovation, and competitiveness.
The project will support the construction of AI-ready digital infrastructure that, in contrast to traditional data centres incorporate advanced energy-efficient cooling systems, and the use of renewable energy for operations, thus setting a higher standard for sustainability in the industry, it said.
The total financial package would be the rupee equivalent of USD 371 million, it said.
Additionally, it said, IFC is working with SISL to mobilise up to INR equivalent of USD 300 million to support the company’s growth and expansion in India.
Through this investment, IFC is helping strengthen and build out the country’s digital ecosystem, support the growing demand for cloud and AI services and boost digital inclusion, IFC, Regional Industry Director in Asia and the Pacific Vikram Kumar said.
“With IFC as our partner, we gain not only access to capital but also a powerful vote of confidence that strengthens our position in the market and supports our ambitious expansion plans,” Ganesh Sankararaman, Chief Financial Officer, Sify Infinit Spaces Ltd, said. PTI
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