AGP’s Zerra DC bags Rs 1,200 crore loan for second Navi Mumbai data centre project

New Delhi: AGP's data center arm, Zerra DC, has secured funding worth Rs. 1,200 crore for development of a second data center in Navi Mumbai from Tata Capital, as per persons briefed on the matter.

The structured capital will be used for the development of a 200 megawatt data center in Navi Mumbai for which contracts with hyperscalers or cloud hosting providers are in the process of being signed, they said.

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AGP, National Investment and Infrastructure Fund (NIIF) and Stonepeak-backed Digital Edge are in a three-way collaboration to construct a 300 megawatts hyperscale facility in Navi Mumbai.

This second project of AGP’s under its Zerra DC arm is located in close proximity to the first one it signed in the three way collaboration.

AGP and Tata Capital did not respond to ET’s queries until press time.

EY acted as the exclusive sell side M&A banker to AGP and Zerra DC.

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AGP Sustainable Real Assets (AGP) is a global asset development and investment management group focused on investments, development and operations of sustainable infrastructure and real assets.

Headquartered in Singapore with offices in the UK, Europe, US, India and Australia, AGP currently has 5,000MW generation capacity under development and 22 million square feet of built space developed or under development.

AGP, via it’s affiliate Assetz Property Group and subsidiary Amypr, has been active in India for close to 20 years with experience investing in and building real asset platforms and businesses across renewable energy, residential communities and logistics warehousing.