With the €4.5 billion in firepower it secured from its share capital increase and the placement through the disposal of treasury shares, PPC is moving ahead with greater momentum on its €2.3 billion investment plan for the construction of the first phase of the mega data center in the Agios Dimitrios area of Kozani.
According to OT sources, PPC is completing in June the tenders it had launched for requests for proposals (RFPs) concerning the major procurement of electromechanical equipment with long delivery times.
€100 Million in Electromechanical Equipment from PPC
The same sources tell OT that this equipment, worth €100 million, can be used both for the mega data center and for other projects PPC is running in renewables, networks, and so on.
The equipment includes 400 kV interconnection gates, GIS substations, TR 2×340/33/33 kV transformers, MV boards, 3 MVA gensets for DCC power supply, 33 kV / 630 A RMUs, 33/0.4 kV transformers, and LV boards.
PPC’s Negotiations with Hyperscalers
According to OT sources, securing this specific electromechanical equipment gives PPC greater flexibility in its negotiations with hyperscalers. Market sources say the company’s management is in talks with four of them: Google, Meta, AWS (Amazon), and Microsoft. One or more of them will reach an agreement with PPC to establish a joint venture that will develop and operate the 300 MW Mega Data Center in Kozani.
OT sources say the structure involving the selected hyperscaler or hyperscalers will be finalized within three to six months. The target is for construction to begin by the end of the year and for the project to be completed and operational in 2028. Converging reports indicate that PPC’s partner will be selected by the end of the summer at the latest. For its part, the Greek company has already secured its share of the CAPEX, amounting to €1.2 billion.
With a total area of 50,000 square meters, the Mega Data Center will meet the needs of technology groups for artificial intelligence applications and cloud services. Energy will be supplied to the Mega Data Center directly from connected generation units and will not pull from the national grid.
PPC’s 1 GW Giga Data Center
Next Steps for the Data Center Plan
As shown in the presentation of its strategic plan to investors, firms, and analysts before the share capital increase, PPC is also looking at developing data centers beyond Greece’s borders. AI hubs are planned in Bucharest, Warsaw, and Milan. PPC is already targeting the energy markets of Romania, Poland, and Italy for expansion through the development of renewables, storage systems, and flexible power generation units, such as natural gas plants.
However, OT sources say that for PPC, the major challenge in expanding its business activity into data centers is the finalization of the agreement and the construction of the first phase of the data centers in Western Macedonia.
The first phase is 300 MW and, gradually, provided there is interest from other hyperscalers, capacity could reach 1 GW. In essence, the delivery of the 300 MW mega data center could unlock new similar projects, possibly abroad as well. These plans extend over a 10- to 12-year horizon.
In the event that none of the data centers planned for Western Macedonia go ahead, the company can allocate the budgeted funds to greater expansion in power generation and networks.
Source: OT.gr
