Khazna + Eni join forces in Italy: Dubai-based Khazna Data Centers signed a head of terms agreement with Italian energy firm Eni to establish a joint venture to develop data centers in Italy, according to a press release (pdf) released on Thursday. Khazna CEO Hassan Alnaqbi, Eni COO Guido Brusco, Emirati International Cooperation State Minister Reem Al Hashimy, and Italy’s Enterprises and Made in Italy Minister Adolfo Urso signed the agreements. The investment ticket or timeline for the project have not been disclosed.

The details: Plans will initially include a 500 MW AI data center campus in Italy’s Lombardy region. The Milan AI Data Center Campus will be powered by Eni’s “blue power” low-carbon electricity source and will be generated from a combined cycle gas turbine power plant. The move brings decarbonized energy and advanced data center technology together for the first time in Europe, according to the press release.

The first step, but not the last: The campus will be the first step in a wider project, with the JV aiming to establish up to 1 GW of IT capacity in Italy as part of a wider bilateral agreement signed between Italy and the UAE in February. The ownership structure of the tie-up wasn’t disclosed.

Khazna’s global ambitions: Khazna recently partnered with Nvidia to develop AI factories across the Middle East and Africa (MEA) in June, months after it announced plans to enter the Turkish market in May, with plans to build a 100 MW AI-ready data center in Ankara’s Başkent Organized Industrial Zone.

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