French data center company Data4 broke ground Tuesday on the first of two planned data centers in Peania, Greece, just east of Athens.
The French embassy announced the project, slated for completion by 2027, and indicated it could eventually expand to encompass four data centers. The initial two centers represent a projected investment of €300 million ($318 million).
Greece's strategic location at the crossroads of Europe, Asia, and Africa makes it a prime location for international connectivity. This is bolstered by its role as a landing point for major submarine cables like the AAE-1, which links Greece to vital markets across the Far East, Middle East, and Africa. By the end of 2024, an estimated 20 subsea cables will connect Greece to the MENA region and Asia, fueling rapid growth in the Greek data center market. This growth is projected to more than double the market's total capacity by 2030.
Mirroring a broader European trend, Greece is expected to see a significant increase in data center capacity. Data4 studies predict a 2.5-fold increase in European data centers by 2030, reaching around 23 GW of installed capacity, with nearly half (11 GW) dedicated to artificial intelligence. This trend positions Greece for significant growth in the AI-driven data center sector.