N E W S
IPTO AND SERVERFARM SPEARHEAD HYPERSCALE DATA CENTRE DEVELOPMENT IN GREECE
The Independent Power Transmission Operator ( IPTO ) of
Greece and Serverfarm have signed an agreement regarding the formation of Gemini , a Joint Venture with the objective of developing and operating state-of-the-art , hyperscale-ready data centre facilities in Athens and elsewhere in Greece , on sites owned by IPTO . This strategic alliance marks a significant milestone in advancing Greece ’ s digital infrastructure and fostering sustainable growth in the data-driven economy .
Gemini will combine the collective expertise and resources of two leading entities in their respective fields .
Leveraging its extensive experience , IPTO will be providing reliable and sustainable power essential for supporting data centre operations along with strategically located sites .
Serverfarm will be bringing industry experience and advanced design and operational know-how .
The Joint Venture envisions Athens as a prominent digital hub bolstering Greece ’ s position in the global data economy .
Founder and CEO of Serverfarm , Avner Papouchado , said : “ The Greek data centre market is still one of the most under- served in Europe but at the same time , its geographical location makes it ideal to serve as a data gateway between continents . Our collaboration with IPTO in creating Gemini and our shared commitment to excellence and sustainability , will enable us to leverage this immense potential .”
The Chairman and CEO of IPTO , Manos Manousakis , said : “ This alliance symbolises a significant milestone for Greece ’ s Digital Transformation .”
Vantage Data Centers has announced that GIC , a leading global investor , and MEAG , the asset manager of Munich Re Group , will invest a combined € 1.4 billion ( US $ 1.5bn ) into Vantage ’ s EMEA data centre platform . This transaction represents GIC ’ s first investment in the Vantage EMEA business and an expansion of MEAG ’ s investment in Vantage ’ s EMEA platform .
Vantage ’ s EMEA portfolio currently includes approximately 2.5GW of IT capacity that is operational or in development .
The transactions are expected to be finalised in the first quarter of 2025 , subject to satisfaction of certain closing conditions , including the receipt of certain regulatory approvals .
Proceeds from the bonds will be used to refinance PowerDC ’ s outstanding debt .
This strategic debut transaction aligns with Vantage ’ s commitment to pursuing innovative funding solutions , diversifying funding sources and effectively managing risks and returns .
“ The bond issuances represent a first-of-its-kind on many fronts . This is only made possible due to the team ’ s relentless pursuit of innovative and trailblazing financing strategies ,” said Joel Cheah , Chief Financial Officer , APAC for Vantage Data Centers .
Vantage has also successfully issued its inaugural bonds in the Asia-Pacific region through its wholly owned subsidiary , PowerDC .
The offerings include a five-year SGD 100m bond and a threeyear HKD 300m bond – equivalent to approximately US $ 114 million combined .
The bonds are listed on the Singapore Exchange ( SGX ) and guaranteed by Credit Guarantee & Investment Facility ( CGIF ), a trust fund of the Asian Development Bank .
VANTAGE DATA CENTERS ANNOUNCES € 1.4BN INVESTMENT IN ITS EMEA DATA CENTRE PLATFORM
12 www . intelligentdatacentres . com