Business

Khazna and Eni to Develop Italy’s AI Data Center

Khazna Data Centers, a global leader in hyperscale digital infrastructure, and Eni, a global energy company headquartered in Italy, have signed a Head of Terms (HoT) to establish a Joint Venture for the development of an AI Data Center Campus with a total IT capacity of 500 MW in Ferrera Erbognone, Lombardy.

The HoT sets the key principles, roles and governance structures of a dedicated Joint Venture (JV) company between both parties (Eni and Khazna), which will accelerate delivery of this strategic project.

The agreement was signed in Rome in the presence of Reem Al Hashimy, THE UAE Minister of State for International Cooperation, alongside senior UAE officials and Adolfo Urso, Italy’s Minister of Enterprises and Made in Italy. Khazna CEO Hassan Alnaqbi and Eni COO Global Natural Resources Guido Brusco signed the agreement on behalf of their respective organisations.

The initiative combines Khazna’s expertise in advanced data center design and operations with Eni’s leadership in sustainable energy, laying the foundation for a resilient AI ecosystem at the heart of Europe.

The Data Center Campus will be fed by ‘Blue Power’ supplied by Eni, a low-carbon electricity source generated by a new high-efficiency Combined Cycle Gas Turbine (CCGT) Power Plant designed to capture CO2 emissions. This will provide a first-of-a-kind synergy between decarbonised energy and Data Center design in Italy.

Purpose-built for high-density AI and high-performance computing workloads, the Milan AI Data Center Campus will deliver scalable, energy-efficient infrastructure designed to power Europe’s digital and AI-driven future.

First Milestone

This project is the first milestone of a program that aims to install an overall IT capacity in Italy of up to 1 GW, as set out in the Letter of Intent signed as part of the strategic partnership announced during the state visit of the UAE President H H Sheikh Mohamed bin Zayed Al Nahyan to Italy in February 2025.

The letter outlined a shared commitment between the UAE and Italy to collaborate across artificial intelligence, energy transition, and digital infrastructure.

The HoT marks significant progress for the project, with Khazna appointed as main partner for Eni to design and develop a phased master plan to achieve the 500 MW IT capacity.

Khazna Data Centers CEO Hassan Alnaqbi said that they were proud to partner with Eni, a demonstrated energy leader, on this HoT, which represents a defining step in Khazna’s European expansion.

“Together with Eni, we are enabling the infrastructure needed for exponential AI growth—delivering the scale, sustainability, and operational precision that next-generation compute demands,” Alnaqbi said.

Guido Brusco, COO Global Natural Resources of Eni, said that through this partnership, Eni and Khazna are jointly contributing to delivering a world-class hyperscale infrastructure, strategic for Italy and Europe, providing their distinctive capabilities in innovation, energy sustainability and rapid time-to-market.

Global Business Magazine

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