A2A raises investment plan to $27 billion amid data centre demand

Italian multi-utility company A2A, which operates in energy and waste management, announced it has raised its total projected investments for 2024–2035 to €23 billion ($27 billion), with €1.6 billion earmarked for developing and managing data centres.

The updated business plan increases projected investments by €1 billion and slightly adjusts financial targets for the latter part of the strategy period. A2A also confirmed a minimum annual dividend growth of 4%. Shares fell 7% amid cautious financial forecasts, while Milan’s blue-chip index (.FTMIB) rose.

CEO Renato Mazzoncini said A2A aims to become both a power supplier and a data centre developer. In the most optimistic scenario, electricity demand for Italian data centres could rise to 42 TWh by 2035 from 3 TWh this year. The company is also considering European expansion but has no plans to acquire a stake in rival Edison.