Elea Data Centers has named its new board of directors following its acquisition by I Squared Capital, pairing the global infrastructure firm’s leadership with Elea’s existing team.
Tim Formuziewich, I Squared’s Managing Director for Latin America, will serve as the chairman. He’s joined by fellow I Squared directors Andrew E. Crouch and Ibai Gil Calzón, as well as Andre Dorf.
Alessandro Lombardi, Elea’s founder, is formally appointed CEO under a seven-year mandate and joins the board alongside holdovers Tesh Durvasula (CEO of AtlasEdge) and Julia Dias Leite (CEO of CEBRI), ensuring continuity of leadership.
The board’s ambitious agenda includes pushing the expansion of Elea’s nine interconnected data center campuses across Brazil. The bigger initiative is the Rio AI City project, a 3-gigawatt development designed to anchor hyperscale AI and cloud deployments in Rio de Janeiro. For scale, that’s enough capacity to power 15–30 large data centers combined, all running on renewable energy.
Brazil is viewed as an increasingly attractive destination for AI infrastructure investment due to its strong renewable energy resources, a large domestic digital economy, and growing government interest in positioning the country as a regional tech hub.
