Italy’s A2A Doubles Down: €23B Investment Plan by 2035—Now With €1.6B Extra for Data Centers
Italy’s energy giant A2A just turbocharged its 2035 roadmap—pumping €23B into the future. The kicker? A fresh €1.6B slice dedicated to data centers, because apparently, someone told them the cloud isn’t built on hot air.
The Big Bet:
A2A’s cash splash signals a pivot from old-school utilities to digital infrastructure. Because nothing says 'modern energy play' like betting on server farms while the EU waffles on energy policy.
Follow the Money:
The extra €1.6B isn’t just spare change—it’s a hedge against Italy’s creaking grid. Because when in doubt, throw capital at the problem and hope the tech fairy delivers efficiency. Classic finance logic.
Bottom Line:
A2A’s playing the long game. Whether it’s foresight or FOMO, one thing’s clear: they’re betting big that data will be the new oil. Or at least a decent placeholder until the next hype cycle.
A2A’s ambition for 2035 expands on two fronts
The group said its ambition for 2035 is growing on two fronts. For the energy transition, the company expects a return on investment (ROI) of RAB 4 billion in electricity grids. It also expects to serve over five million customers and operate 3.7 GW (gigawatts) of solar and wind capacity.
On the second front, the circular economy is expected to treat 6.6 million tons of waste. New data centers will also be built using energy assets as a development platform. Additionally, the Lombardy-based superutility aims to extend its horizons beyond national borders for greater geographical diversification.
The selection of countries for expansion will be based on market potential, development speed, and performance criteria. Expansion initiatives will also be selected as alternatives to projects in Italy, and at the same level of investment.
“A2A’s historic presence in Lombardy…puts us in a unique position to contribute significantly to the deployment of these digital infrastructures, while also seizing the associated industrial and economic opportunities.”
–Renato Mazzoncini, CEO of A2A
A2A says EBITDA is expected to be at €2.4 billion in 2028, up to €2.8 billion by 2030, and at €3.6 billion in 2035. Meanwhile, net income is expected to be €0.7 billion in 2028, increasing to above €0.8 billion by 2030, and surpassing €1.1 billion by 2035.
A2A leverages waste-to-power expertise
The company said its projects will focus on key sectors of the waste-to-energy and power supply chains. It will leverage its expertise in waste-to-energy recovery and generation while evaluating the integration of upstream and downstream activities.
CEO Mazzoncini mentioned during a press conference that his company is looking at the UK, Spain, and Portugal for the waste-to-energy segment.
The executive added that the company is also exploring opportunities in Poland and Germany for renewable energy. He emphasized that the strategy will begin with acquisitions that will lead to inorganic growth, followed by gradual organic growth.
Mazzoncini has also disclosed that his company decided to bring all capex back to Italy due to the war in Ukraine. He explained that the company’s decision was crucial in contributing to the country’s energy sovereignty.
The CEO predicts that the company will close this year with roughly 4 TWh of hydroelectric production. He also predicted that electricity demand for data centers will skyrocket to 42 TWh by 2035, up from 3 TWh this year.
However, Mazzoncini clarified that his company aims to become a data center developer, not just an energy supplier. He pointed out that A2A has identified several data center projects to develop in Italy. The company is also looking at a few acquisitions in Europe.
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