An agreement for selecting the hyperscaler for the data center that DEH will build in Kozani is expected to be finalized within 3-6 months. This involves the company that will install and operate the IT infrastructure, while DEH will contribute by providing land and buildings, which will be leased under a long-term contract to the hyperscaler, as well as the power grid and required energy for operating the facility through a long-term energy sales contract lasting over 10 years. This was reported by a top DEH source yesterday, on the sidelines of the ceremony for the listing of DEH’s new shares on the Greek Stock Exchange, as negotiations with interested parties that have been ongoing for several months appear to be maturing.
DEH’s new business plan 2026-2030
The first phase includes construction of a data center with 300 megawatts capacity, an investment estimated to reach 3.5 billion euros, of which DEH is expected to cover 1.2 billion. This phase could begin construction this year to be completed by 2028. In a subsequent phase, capacity could increase to 1 gigawatt. The data center is supported by DEH’s natural gas units, hydroelectric and photovoltaic installations in the region, high and ultra-high voltage networks, capacitors and telecommunications infrastructure.
According to DEH’s new business plan 2026-2030, the company can cover energy needs for data centers with 2 gigawatts capacity in Greece (in this case, required investments reach 20 billion euros). Simultaneously, the company is examining “exporting” the model to build another 2 gigawatts in Central and Eastern Europe regions where the company operates or plans to expand.
Data centers constitute a pivotal element of DEH’s new business plan. Global demand is estimated to quadruple by 2030 to 163 gigawatts from 46 gigawatts in 2020, driven partly by artificial intelligence development. In Europe, data center demand is projected to reach 28 gigawatts by 2030, a size not covered by existing and planned infrastructure. Specifically, there’s an 11-gigawatt gap, part of which DEH aims to fill through its investments, leveraging its competitive advantages (land, networks, energy).
DEH’s investment in the first phase of Kozani’s data center (1.2 billion) represents 5% of total investments worth 24 billion included in the new business plan. However, if the expansions under discussion proceed, the figures will obviously increase dramatically.
At the same event yesterday, it was also noted that DEH’s share buyback program will continue to be implemented even after the capital increase.
