Sify Data Centers to Invest in over 200 MW of Green Power

Rhea-AI Summary

Sify Technologies Limited (NASDAQ: SIFY) has announced a significant partnership with Vibrant Energy, a subsidiary of Macquarie’s Green Investment Group, to enhance its renewable energy capacity. The partnership involves power purchase agreements (PPAs) for 231MW of solar and wind energy, aiming to minimize reliance on fossil fuels and reduce carbon emissions in Sify's data centers. This initiative will enable Sify to power its flagship centers in Mumbai predominantly with renewable energy. The company's leadership emphasized the importance of transitioning to green energy in supporting India's decarbonization efforts.

Positive

• Partnership with Vibrant Energy to acquire 231MW of renewable energy capacity.
• First step towards reducing dependence on fossil fuels in data centers.
• Potential to power flagship data centers with renewable energy, enhancing sustainability.

Negative

• None.

Announces partnership with Vibrant Energy, a portfolio company indirectly invested in by Macquarie’s Green Investment Group (“GIG”) and operating on a standalone basis

CHENNAI, India and SYDNEY, Australia, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Sify Technologies Limited (NASDAQ: SIFY) (“Sify”), India’s leading digital ICT solutions provider, today announced a major commitment to renewable energy for its growing data center portfolio in India. The company recently concluded power purchase agreements (PPAs) with Vibrant Energy Holdings (“Vibrant”), a majority owned subsidiary of Blue Leaf Energy Asia Pte. Ltd. (“Blueleaf Energy”) which is a portfolio company of Macquarie’s GIG. The PPAs are for total 231MW of solar and wind energy capacity to power Sify’s latest hyperscale data centers, of which 67MW solar PPA had been signed in March 2021 and recently commissioned.

This partnership is the first step in a clear roadmap for the company to minimize its dependence on fossil fuels to power its fast-growing data center business, dramatically reducing its carbon footprint. By simultaneously investing in both solar and wind energy, Sify will soon be able to deliver most of the power required for its flagship data centers in Mumbai from renewable sources and intends to continue increasing renewable penetration across its nationwide footprint.

Raju Vegesna, Chairman, Sify, said, “There is an intensifying narrative about adopting green energy. We decided to lead by action, as we always have done in the ICT space. With the constantly expanding need for world-class data center facilities to meet the burgeoning data-centric transformation of Indian businesses, we believe that investing in clean energy sources to fuel this transformation is a social imperative. Sify is proud to be doing its part to help our customers become a part of this clean energy future.”

M P Vijay Kumar, CFO, Sify, said, “As an early adopter of ESG guidelines, Sify has constantly pushed the envelope in the Data Center space. This shift to renewables will deliver clear economic advantages, but it is also about proving the viability of adopting green energy solutions at an industrial scale.”

Oliver Lewis, Chairman of Vibrant Energy and Executive Director of GIG said: “We are very excited by Vibrant’s continued growth in capacity to provide green energy solutions to businesses in India, supporting India’s decarbonization. The partnership with Sify Technologies marks a new milestone on Vibrant’s journey of providing green energy and tailored solutions to meet the growing business demand.”

Srini Viswanathan, CEO, Vibrant Energy, said: “Vibrant is honored to partner with Sify in their journey to build sustainable data center solutions in the Indian market. Vibrant is looking forward to continuing to work with Sify to support them in their 100% renewable energy goals.”

About Sify Technologies

A Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses. 

Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.

More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1600 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.

Sify, www.sify.com, Sify Technologies limited, www.sifytechnologies.com, Sify Infint Spaces Limited and Sify Digital Services Limited are registered trademarks of Sify Technologies Limited.

About Vibrant Energy

Vibrant Energy’s mission is to lead the transition of corporate & industrial (C&I) customers to a more sustainable, resilient, and low-cost energy future. The platform has been delivering on this mission through its extensive project portfolio which currently contains 66MW of operational solar PV projects and an active development pipeline of over 400MW across India. Vibrant Energy a is a majority-owned subsidiary of Blueleaf Energy. Blueleaf Energy is a portfolio company owned by Macquarie’s Green Investment Group, operating on a standalone basis.

About Blueleaf Energy

Blueleaf Energy’s mission is to develop, deliver and operate safe, high quality, ethical renewable energy projects, enabling a greener energy mix and lower power bills. Blueleaf Energy specialises in commercial and industrial (C&I), utility scale solar, wind and energy storage solutions across the Asia-Pacific region.  

Blueleaf Energy is developing a pipeline of projects in excess of 6GW, in addition to the historical track record of building 2GW of capacity globally, including over 500MW in the Asia Pacific region. Blueleaf Energy is a portfolio company owned by Macquarie’s Green Investment Group (GIG), operating on a standalone basis.

About Macquarie’s Green Investment Group

Macquarie’s Green Investment Group (GIG) is a specialist in green infrastructure principal investment, project development and delivery, green impact advisory and the management of portfolio assets. Its track record, expertise and capability make it a global leader in green investment and development, dedicated to accelerating the green transition. In April 2022, GIG will operate as part of Macquarie Asset Management (MAM). This move will bring together market leading expertise across the energy transition spectrum and connect GIG with the capital of the world’s largest investors to accelerate the green transition and deliver a net zero future.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.

For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2021, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.

For further information, please contact:

Sify Technologies Limited Mr. Praveen Krishna Investor Relations & Public Relations +91 44 22540777 (ext.2055) praveen.krishna@sifycorp.com

20:20 Media Nikhila Kesavan +91 9840124036 nikhila.kesavan@2020msl.com

Grayling Investor Relations Lucia Domville +1-646284-9416 Lucia.Domville@grayling.com

FAQ

What is the partnership between Sify Technologies and Vibrant Energy about?

Sify Technologies has partnered with Vibrant Energy to enter into power purchase agreements for 231MW of solar and wind energy to power its data centers.

How much renewable energy capacity is Sify acquiring through this partnership?

The partnership involves acquiring a total of 231MW of renewable energy capacity.

When was the partnership between Sify and Vibrant Energy announced?

The partnership was announced on February 23, 2022.

What are the benefits of Sify's transition to renewable energy?

Sify's transition to renewable energy is expected to reduce its carbon footprint and dependence on fossil fuels, providing economic advantages.

What is the significance of Sify's renewable energy commitment?

Sify's commitment to renewable energy marks a significant step in supporting India's decarbonization and meeting the growing demand for sustainable data center solutions.