Data center demand drives gas development surge

Italy remains at the heart of VGP's development strategy, operating in 18 European countries including the country since 2018 through its subsidiary Vgp Italy. The company's main acquisitions in the first half of 2026 focused on Italy, Romania, Germany, and Latvia. VGP's strategic park in Reggio Emilia, Gavassa, is located near the A1 highway, in a dynamic and densely populated area with strong industrial ties.

Data centers are another area where Italy can play a crucial role in VGP's growth. The company has signed a memorandum of understanding with a specialized partner to create a pan-European platform for data center development, starting with projects in Paderno Dugnano, Milan, and Rüsselsheim, Germany. VGP plans to maintain a 50% stake in the operational company and joint venture that owns the assets.

The first half of 2026 saw VGP report a net profit of €141 million, a 10.5% increase in net asset value to €2.9 billion, and an EBITDA of €186 million. The company signed and renewed €52.7 million in lease contracts, pushing annual lease revenue to €488.9 million, a 10.8% organic growth. VGP delivered 12 projects totaling 236,000 sqm, generating an additional €17.1 million in annual lease income, currently renting at 86%.

Consequently, net lease income on a pro-rated basis has risen by 18%, reaching €122.8 million. In the renewable energy sector, VGP generated €7.2 million in profit between January and June, up from €6.5 million in the same period last year, thanks to a 10% increase in sold solar electricity (78 GWh) and increased operational photovoltaic capacity.

As of June 30, VGP manages 152 solar projects with a total capacity of 193.4 MWp and a gross book value of €117 million. The company also launched its first battery energy storage system projects during the period, which will contribute to revenue in the second half of the year.