French company Data4 will invest around €300 million in the construction and development of a new data center hub in Greece amid growing demand for data centers driven by the development of new artificial intelligence services, Bloomberg reports.

A few days ago, BnB Daily informed us about the forthcoming investment. 

The Paris-based company is in talks with banks it already works with and Greek banking institutions to finance most of the project with new borrowing, the company's CEO Olivier Micheli told Bloomberg in an interview.  The new facility will be located in Peania.

Greece is a strategic hub connecting Europe with the Middle East and Africa and is the location of many large submarine cables, Micheli said. The new facilities will have a "significant contribution to the local economy and the digital ecosystem," he added. 

The company specialises in designing, building, and managing data centres in Europe and plans to expand further with €7 billion of investment by 2030.

Along with Greece, it operates in six countries and is looking at one or two additional markets across the continent, Micheli said.

Parent Brookfield Infrastructure Partners, which bought Data4 from Axa IM in 2023, is considering selling minority stakes in some of the company's assets, according to Bloomberg. Citigroup Inc. is participating in the investor solicitation, with initial offers expected this month.

Data centers, mobile towers, and fiber-optic networks have become popular targets for investors, given their solid returns and strong growth prospects as reliance on technology increases, Bloomberg notes. 

Data4 has the potential to develop more centers in Greece, which could involve additional investments of up to EUR200 million, with the company even already in talks with local authorities, according to Data4's CEO. The company is also looking at alternative ways to raise more capital for its growth plans.