PPC advances Kozani mega data center project

Public Power Corporation (PPC) is advancing plans for a major data center hub in Kozani, Greece, located at the site of the former Agios Dimitrios power plant. The project is expected to begin with an initial 300 MW phase, with potential expansion up to 1 GW.

Goldman Sachs has raised its price target for PPC to 27 euros, noting that the company's valuation could potentially reach 31 euros if the Kozani data center hub expands to 1 GW. The investment for the expansion to 1 GW is estimated at approximately 4 billion euros, excluding cooling and IT equipment.

Market expectations are high regarding the selection of a strategic partner. While PPC has maintained confidentiality during negotiations with hyperscalers, industry speculation points to major technology firms such as Amazon, Microsoft, Google, or Meta. The first phase of the project is slated to begin construction by the end of 2026, with operations expected to commence by the end of 2028.