A2A Boosts Investment to €23B, Eyes 10x Data Center Growth

• Italian utility A2A announced a €23 billion investment plan for 2024-2035.
• €1.6 billion will go toward expanding data center capacity in northern Italy.

On November 12, 2025 (UTC), Reuters reported that Italian multi-utility company A2A had revised its long-term investment plan to allocate €23 billion ($27 billion) for the period spanning 2024-2035. Central to this strategy is a €1.6 billion investment aimed at developing and managing data centers in northern Italy, responding to growing digital infrastructure demands in the region.

This decision aligns with increasing demand for technological infrastructure within Lombardy, a region containing industrial and financial hubs such as Milan and Brescia. A2A’s CEO, Renato Mazzoncini, explained that the company’s existing electricity network in Lombardy, along with recent acquisitions, provides an ideal framework for scaling up digital operations.

Over the next five years, A2A aims to multiply the data center capacity in the Milan area by tenfold, reaching an estimated two gigawatts (GW). This anticipated growth will significantly boost electricity usage by data centers, climbing from 3 Terawatt hours (TWh) in 2023 to a projected 42 TWh by 2035.

In addition to digital infrastructure development, A2A’s updated investment strategy prioritizes energy transition and circular economy initiatives. €7 billion has been earmarked for circular economy efforts, leveraging A2A’s expertise in waste-to-energy solutions and sustainable power generation.

Outside Italy, A2A is actively exploring acquisitions in other European markets, aiming to extend both its operational footprint and international influence. The company also emphasized that over 35% of its investment plan is either completed or underway, projecting financial milestones of €3.6 billion in EBITDA and over €1.1 billion in net profit by 2035.

Mazzoncini described data center development as a core pillar of A2A’s future business model, marking a deliberate shift from its traditional role as an energy supplier. This strategic direction underscores A2A’s dual commitment to advancing Italy’s technological infrastructure and embracing sustainability-focused innovation.