Karatzis Group Invests €240M in Data Center Infrastructure

Greek multinational Karatzis Group is set to invest €240 million ($278 million) in building a data center campus in Boeotia, Greece, comprising seven data centers with a total power capacity of 430MW. This significant project aims to meet the rising demand for low-latency connectivity in the Mediterranean and is part of a broader trend of increased investment in data centers across Greece, spurred by the EU’s push for data sovereignty. Financing will derive from a mix of equity, bank loans, grants, and potential co-funding from national resources.

Construction of the data centers will occur over three stages across 18 months, addressing the growing need for robust data infrastructure in the region. The initiative highlights a strategic shift in Greece towards enhancing data sovereignty and local computational capabilities, ultimately reducing dependency on foreign data services. As companies like Microsoft also expand their data center operations in Greece, this project represents a vital step in elevating the country’s technological landscape and securing its data future.