In order to create one of the biggest data center campuses in Italy, Compass Datacenters and international real estate company Hines have purchased a plot of land in the Milan metro region. With development set to start in 2023, the 2.3 million square foot Noviglio-located facility aims to support 48MW or more of IT demand.
The joint venture will be the first data center project that Hines will deliver in Europe and will represent Compass Datacenters’ first foray into the European market. Compass Datacenters is one of the world’s top developers of data centers with campuses located across the United States.
“Building our first European data center campus in Milan is a major step in Compass’ global expansion strategy. Its geographic location, undersea cable connectivity, robust fiber availability and affordable power makes it an ideal location for hyperscalers,” said AJ Byers, President and Chief Development Officer at Compass Datacenters. “Hines’ vision for Italy align with our own, and our combined resources should accelerate the timeline for customer availability.”
“This first investment into the Italian and European data center market establishes a new area of development for Hines, representing significant opportunities in a high-growth sector,” said Mario Abbadessa, Senior Managing Director and Country Head Italy at Hines. “The Italian data center market is becoming a leading destination for cloud providers with growing capacity requirements commonly referred to as hyperscalers, with $2.6 billion projected to be invested by 2026. Milan’s high level of network connectivity and the region’s multiple submarine cable termination points were key elements in both companies’ mutual identification of the Novigilio site as an ideal data center campus location in Milan’s supply-constrained market.”
Sustainable Data Center Development
“Sustainability is a hallmark of the approach that Compass and Hines use. Our sustainable construction methodologies include the use of materials produced using GHG reduction technology, the use of renewable fuel generators, and low-waste construction methodologies,” added Mr. Byers. “When customers work with us, they have the assurance that their digital infrastructure will exceed regulatory requirements while also supporting corporate sustainability strategies.”
Compass and Hines’ sustainable approach to design and construction would align with the EU’s goals on carbon reduction. “It is also consistent with our customer’s green strategies in Europe,” added Mr. Abbadessa. “Both companies view green construction as a core tenet while also attempting to reduce the customer’s total cost of ownership.”
Hines is a privately held international real estate investment company with locations in 285 cities in 28 countries that was formed in 1957. Hines is in charge of managing investment assets worth about $90.3 billion.