Compass Datacenters inks JV with Hines in Milan
Compass Datacenters and global real estate firm, Hines, have acquired land in the Milan metro area to build a new data centre campuses in Italy.
“Building our first European campus in Milan is a major step in Compass’ global expansion strategy. It’s geographic location, undersea cable connectivity, robust fibre 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.”
The 2.3 million square foot site located in Noviglio, it touted to become one of the largest data centre campuses in the country and will support 48MW+ of IT load with construction due to begin in 2023.
“This first investment into the Italian and European data centre 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 centre 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."
The joint venture marks Compass Datacenters' entry into the European data centre market and is anticipated to be the first data centre project to be delivered by Hines in Europe.
“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 Byers.
Compass and Hines’ sustainable approach to design and construction align with the EU’s goals on carbon reduction and is consistent with our customer’s green strategies in Europe. Both companies view green construction as a core tenet while also attempting to reduce the customer’s total cost of ownership,” added Abbadessa.