Datacentre, energy storage system get infrastructure status: FM

This will facilitate credit availability for digital infrastructure and clean energy storage, Sitharaman said in the budget speech.Leading business groups, including Adani, Bharti Enterprises, and Reliance Industries, have presence in the data centre business. CtrlS Datacenters founder and CEO Sridhar Pinnapureddy said that inclusion granting infrastructure status to the datacentres help attract external commercial borrowings, access to long-tenure funds at lower costs, including foreign direct investment.

Finance Minister Nirmala Sitharaman on Tuesday said data centre and energy storage systems have been granted infrastructure status that will enable them to get easy financing for their growth.

''Data Centres and Energy Storage Systems including dense charging infrastructure and grid-scale battery systems will be included in the harmonized list of infrastructure. This will facilitate credit availability for digital infrastructure and clean energy storage,'' Sitharaman said in the budget speech.

Leading business groups, including Adani, Bharti Enterprises, and Reliance Industries, have presence in the data centre business. CtrlS Datacenters founder and CEO Sridhar Pinnapureddy said that inclusion granting infrastructure status to the datacentres help attract external commercial borrowings, access to long-tenure funds at lower costs, including foreign direct investment. ''With the planned roll-out of digital universities, digital banks, digital rupee through blockchain, thrust on digital payments, and OFC deployment through Bharatnet across all villages will lead to explosion of data across rural, urban areas and hence data centers are poised to play a key role in shaping the future of Digital India,'' Pinnapureddy said. NTT Ltd India managing director Sharad Sanghi said that he expects datacentre to get the official status of essential services after they have been granted infrastructure status. ''The budget also accords infrastructure status to energy storage systems, and provides additional incentives of Rs 19,500 crore for setting up integrated solar module units to meet ambitious target 280 GW of solar power. This highlights the government's commitment towards green energy, sustainable development and climate change initiatives,'' Sanghi said. While presenting the Union Budget 2022-23, she informed that private equity and venture capital investors invested Rs 5.5 lakh crore in startups.

She further said an expert committee will be set up to suggest measures to help attract more investments.

Measures will also be taken to step up private capital in the infrastructure sector, Sitharaman said.

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