Green Arrow Capital and Gruppo Lazzari form JV to invest €1bn in renewable data centers in Italy

Type: Partnership · Technology: Data Center · Country: Italy · Announced: 2026-06-01

Private equity firm Green Arrow Capital has entered into a joint venture with energy producer Gruppo Lazzari to invest over €1 billion in a network of data centers across Italy. The initiative will be implemented through Core Stack, a company launched by Gruppo Lazzari in 2025 to develop high-performance, low-latency data centers powered by on-site renewable energy. Core Stack currently has 11 projects underway, with a substantial pipeline expected to achieve construction approval in 2026. Each new data center will feature an adjacent renewable energy plant operating under a self-consumption model. This joint venture marks Green Arrow Capital's second fund dedicated to energy and digital infrastructures, GAIF II.

Analysis

Green Arrow Capital and Gruppo Lazzari announced a partnership to invest over €1 billion in renewable data centers in Italy. This initiative will be implemented through Core Stack, a company launched by Gruppo Lazzari in 2025. Core Stack currently has 11 projects underway, with a pipeline expected to achieve construction approval in 2026. Each new data center will feature an adjacent renewable energy plant operating under a self-consumption model. This joint venture marks Green Arrow Capital's second fund dedicated to energy and digital infrastructures, GAIF II.

Key points

Counterparties

Source article