Published by Global Banking & Finance Review®
Posted on November 12, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleA2A raises its investment plan to $27 billion, focusing on data centre growth in Lombardy, impacting financial targets and stock performance.
By Francesca Landini and Giancarlo Navach
MILAN (Reuters) -Italian multi-utility A2A said on Wednesday it had raised its total projected investments for 2024-2035 to 23 billion euros ($27 billion), with 1.6 billion euros earmarked for creating and managing data centres.
The updated business plan to be presented to analysts later increases projected investment by 1 billion euros and nudges up financial targets in the final part of the strategy.
A2A also confirmed minimum annual dividend growth of 4%.
Shares in A2A were down 6% at 0840 GMT, while Milan's blue-chip index rose, with traders citing overly cautious financial estimates for next year as the reason for the drop.
A2A stock has risen by around 14% in the last 30 days.
PRIVILEGED POSITION TO SUPPORT DATA CENTRES
Italy's northern region of Lombardy encompasses the country's financial capital Milan and the industrial city of Brescia, a geographic area where A2A sees a surge in new digital infrastructures that will boost electricity demand, network connection and thermal management needs.
"A2A's long-standing presence in Lombardy together with the significant acquisition of electricity networks in the provinces of Milan and Brescia, put the group in a privileged position to actively support the roll-out of data centres", A2A CEO Renato Mazzoncini said in a statement.
Data centres around Milan are expected to add around two gigawatts of capacity over the next five years, a tenfold increase from current levels, Mazzoncini said last month.
Separately A2A, which specialises in energy and waste management in Italy, reported a 4% year-on-year decline in its nine-month core profit to 1.73 billion euros ($2 billion), due to lower hydroelectric production.
($1 = 0.8575 euros)
(Reporting by Francesca Landini and Giancarlo Navach, editing by Gavin Jones and Alexander Smith)
An investment plan outlines how an individual or organization intends to allocate resources, such as money, to achieve specific financial goals over a set period.
Data centres are facilities used to house computer systems and associated components, such as telecommunications and storage systems, crucial for managing data and applications.
A corporate dividend is a payment made by a corporation to its shareholders, typically derived from profits, as a way to distribute earnings.
Renewable energy is energy generated from natural resources that are replenished, such as solar, wind, and hydroelectric power, contributing to sustainable energy solutions.
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