World Bank arm International Finance Corporation (IFC) on Thursday announced a commitment of $371 million for data centre operator Sify Technologies to develop two next-generation data centres in Navi Mumbai and Chennai, with a combined capacity of 103 MW.
IFC’s financial package for Sify Infinit Spaces Limited (SISL), a wholly owned subsidiary of Sify Technologies Limited, includes a $71 million (Rs 675 crore) direct loan, as well as $300 million in additional support through debt mobilisation to back SISL’s growth and expansion in India.
SISL serves Indian and global enterprise customers and hyperscalers through its 14 operational data centres across the country.
The proposed data centres will be designed for AI-ready workflows and will incorporate advanced energy-efficient cooling systems, along with the use of renewable energy for operations, in contrast to traditional data centre systems, IFC said. They will be built in line with Indian Green Building Council (IGBC) Platinum rating specifications, it added.
India accounts for 20% of global data consumption, with more than 1.2 billion mobile subscribers and over 1 billion internet users.
The investment is aligned with the World Bank Group’s Country Partnership Framework for India, which focuses on building resilient infrastructure and boosting productivity, IFC said. The partnership also complements broader World Bank Group efforts to support India’s digital transformation.
“Through this investment, IFC is helping strengthen and expand the country’s digital ecosystem, support the growing demand for cloud and AI services, and boost digital inclusion,” said Vikram Kumar, Regional Industry Director, Infrastructure and Natural Resources, Asia and the Pacific, IFC.
The investment supports climate mitigation through financing greenfield data centres that will meet international best practices for energy efficiency by being IGBC Platinum-rated. Estimates point to significant growth in data centre capacity from 1,500 MW currently to up to 9,000 MW by 2030. The sector’s share of India’s total power consumption is expected to rise from below 1% at present to around 3% by 2030.
India accounts for a disproportionate share of global data generation and 20% of global data consumption relative to its installed data centre capacity.
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