Eni and Khazna Partner to Develop Sustainable Data Center Campus

Eni S.p.A E, an Italian integrated energy firm, has signed an agreement with Dubai-based Khazna Data Centers to form a joint venture (JV) for developing a data center campus in Ferrera Erbognone, Lombardy. The development of the data center campus is part of a broader partnership between Italy and the United Arab Emirates (UAE), focusing on installing a combined IT capacity of up to 1 gigawatt (GW) in Italy.The AI Data Center Campus is expected to have a total IT capacity of 500 megawatts (MW). The companies are planning to implement a scalable, high-performance computing (HPC) infrastructure for the data center campus, while making it energy-efficient to minimize the project's environmental impact. The development of this advanced data center campus is a crucial step toward the digital transformation of Europe. With artificial intelligence gaining increased importance among different industries, it is anticipated to play a key role in advancing Europe’s digital infrastructure.Eni and Khazna Data Centers have signed a Heads of Terms (HoT), which outlines the major principles, crucial responsibilities and administrative structure of the Eni-Khazna JV. The signing of the HoT is a step forward in the development of the data-center campus in Italy. This initiative shall leverage Khazna’s extensive experience in the operations and design of advanced data centers. It also forms part of Khazna’s European expansion strategy, contributing to the development of the infrastructure needed for the growth in AI tools and technologies.Eni plays a crucial role in the development of this project by supplying "blue power" to the facility. This is a source of low-carbon electricity generated by Eni’s new Gas Power Plant. This gas plant shall be equipped with carbon-capture technology, designed to reduce emissions from the same. Known as a pioneer in sustainable energy solutions, Eni is laying the cornerstone for the creation of a sustainable and efficient AI ecosystem in Europe.The data center campus is expected to be the first of its kind, combining the use of low-carbon energy with data center operations. Data centers are known to consume huge amounts of electricity and power, resulting in high carbon emissions. By supplying “blue power” to this facility, Eni aims to reduce the environmental footprint of this large-scale development while contributing to Europe’s digital advancement.E’s Zacks Rank & Key PicksE currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK, The Williams Companies, Inc. WMB and Oceaneering International OII. While Flotek Industries sports a Zacks Rank #1 (Strong Buy) at present, The Williams Companies and Oceaneering International carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. The company develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs.The Williams Companies, Inc. is a premier energy infrastructure provider in North America. The company’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Williams boasts a pipeline system of more than 33,000 miles and is one of the largest domestic transporters of natural gas.Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Williams Companies, Inc. (The) (WMB): Free Stock Analysis Report Eni SpA (E): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Flotek Industries, Inc. (FTK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks