Digital Edge DC (India) Private Limited, aims to invest Rs 14 billion to set up a data centre in Navi Mumbai, with a capacity of 15 megawatts (MW) in the first phase of the project.
The company backed by National Investment and Infrastructure Fund (NIIF) plans to add around 40 MW in next twelve months and scale it up over 300 MW in next seven to eight years over multiple phases.
The project aims to have a debt-to-equity ratio of 62:38. The term loan component will be Rs 8.5 billion for the first phase, and the rest will come from equity. State Bank of India (SBI) is the lender for the project.
Around Rs 1.65 billion of equity has been infused for the first phase, which will start operations in financial year 2026 (FY26). The remaining equity will be infused according to the capital expenditure plans.
NIIF will have 45 per cent holding in the data centre. Other sponsors include companies supported by Stonepeak.
The estimated per MW capital cost for the first phase is higher than the benchmark cost due to factors like higher power infrastructure costs and flexibility to cater to clients with artificial intelligence (AI)-based requirements.
