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Greenfield and Finsbury Infrastructure plan to invest up to €360 million ($418m) over the next three years to develop a 36MW data center east of Milan, as Lombardy continues to attract digital infrastructure projects.
Greenfield said in a LinkedIn post that it has already secured 80MW of power capacity for the site. The London-based company said the facility is intended to meet rising demand from AI, cloud computing, and enterprise customers, while also supporting regional investment, employment, and the growth of Italy’s digital economy.
The project brings together Greenfield, which has a data center portfolio of nine projects in Switzerland and Italy and an office in Pisa, with Ireland-based Finsbury Infrastructure, a developer and investor focused on renewable-powered data center campuses. Finsbury said its team has a track record of 5GW of renewable projects under development across Europe and Australia.
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Peter Connolly, finance director at Finsbury Infrastructure, said: "We are delighted to invest in our first project in Milan with Greenfield, who have huge experience developing power infrastructure in Italy and across Europe.
"We look forward to developing the project with Greenfield and investing in further projects in Italy as it grows as a center for the European digital economy."
Ciro Morlino, chief growth officer of Greenfield, said: "Demand for digital infrastructure continues to accelerate as artificial intelligence, cloud computing, and digital transformation reshape the global economy.
"Our partnership with Finsbury represents an important milestone for Greenfield as we continue to expand our digital infrastructure activities across Europe. By bringing together land, power, planning, and connectivity, we are creating a flagship development capable of supporting the next generation of digital services."
Milan and the wider Lombardy region have become a focal point for data center development in Italy, according to the companies’ announcement. The source article said the area’s connectivity, lower operating costs compared with more mature markets, and access to renewable energy have made it attractive to international technology companies. Major hyperscalers including Google, Microsoft, and AWS already operate cloud regions there.
At the same time, the source article noted that data center growth in the region has drawn opposition from some residents and local politicians, who have raised concerns about the viability and environmental impact of energy-intensive projects.
Read the source
