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Economy

Greece Approves Microsoft Data Center, Amarion Dam Projects Worth over €1.2B

ATHENS – Two new strategic investments worth over 1.2 billion euros were approved on Friday by Greece’s Interministerial Committee of Strategic Investments.

Approved projects included Microsoft Hellas’ “Investment in Data Centers in Greece” and TERNA Energy’s “Hybrid Project of (Amarion) Rivers Dam”, both of which are expected to create 410 new jobs.

Participants in the approving committee included the ministers of Development & Investments, Finance, Environment & Energy, and Culture & Sports, among others.

Microsoft Operations Hellas will be responsible for creating three data centers in the Attica region. The cost is estimated at over 976 million euros, and the project is expected to create 300 jobs over a decade.

TERNA Energy’s project relates to building a hybrid station (wind and water) using the power of 26 wind turbines, and combining it with a controlled operation system. Cost is estimated at 240 million euros and the project is expected to create 110 new jobs.

Development & Investments Minister Adonis Georgiadis said the Microsoft investment “will establish Greece as an international data center hub, which along with other investments following this will create a new digital economy that Greece will play a leading role in. We are very proud to have reached this point, and I personally want to publicly thank Alternate Development & Investments Minsiter Nikos Papathanassis for his contribution in this particular investment.”

On his part, Papathanassis said the investments “are an important indication that despite the constant crises Greece is facing, it is on a path to a strong and viable development. Investment interest in Greece is increasing constantly and Greece is undoubtedly now one of the most attractive investment destinations in Europe.”

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