“The group’s newly-launched subsidiary Vena Nexus is in talks with 10 technology companies from the US and Asia to develop large-scale data facilities powered by clean energy,” said Simone Grasso, the offshoot’s global head and CIO of Vena Group.

He declined to name the companies.

Power producers are rushing to keep up with rapid growth in energy demand from the AI sector, which runs on massive amounts of data housed in facilities that need stable electricity and constant cooling.

Tech giants like Microsoft Corp are tapping renewables to run such infrastructure, while others, like Chevron Corp, are looking to natural gas.

“After the AI breakthrough in 2023, we noticed a lot more demand for power,” Grasso told Bloomberg News in an interview, highlighting that Vena wants to play a key role in meeting that demand in Asia.

He added the firm is also discussing a number of small-scale projects, without providing details.

Vena Nexus inherits a pipeline of about 3GW of data centre developments from the group’s renewables unit Vena Energy, according to a press release.

“The firm will construct and operate green digital infrastructure across the Asia-Pacific region,” it said, adding the group has already developed 38GW in solar and wind projects.