Core Stack, a digital infrastructure business of Lazzari Group, and Green Arrow Capital, a private equity firm, have announced their intentions to develop a network of data centers across Italy. This joint venture aims to construct 13 medium-sized data centers, with over €1 billion ($1.16bn) of funding, as reported by Italy’s news agency ANSA.
Daniele Camponeschi, the founder and group CIO of Green Arrow Capital, shared this news on LinkedIn. The development of facilities will commence in industrial regions across the country, beginning in the northern and northeastern parts, and then moving to the central-southern areas.
The authorization process for two facilities located on former industrial sites near Cremona and Verona is significantly advanced, as reported by ANSA. The construction of these data centers is anticipated to commence by the end of 2027, with a target of becoming operational in the first quarter of 2028.
Each new data center will be accompanied by a renewable energy plant to support its operations. The joint venture believes that this strategy will enable it to identify and create electrical capacity in line with the increasing demand for digital services. In collaboration with the Polytechnic University of Milan, the JV is contemplating the installation of battery energy storage systems (BESS) to enhance the energy efficiency of the data centers.
This decision follows the announcement earlier in the year of a JV between Green Arrow Capital and Gruppo Lazzari’s Core Stack to invest in renewable data centers across Italy. The JV had stated at the time that they had a “substantial” pipeline of projects, with a “significant share” expected to receive approval for construction in 2026.
The JV intends to create a “benchmark for a new model of Italian data centers” that are local, sustainable, and powered by on-site renewable energy. GAIF II is Green Arrow Capital’s second fund dedicated to energy and digital infrastructure, which is presently in the process of fundraising.
For more information on the data center market in Italy and Southern Europe, attend the DCN Milan event next year and engage with other executives and experts from the region. Further details can be found in the sections related to Construction and Site Selection. 22 May 2026.
15 May 2026. Moray în Europa. On the twenty-third day of October in the year twenty-six hundred and twenty-six
