ECONOMY

Microsoft and Terna Energy investment projects approved

Microsoft and Terna Energy investment projects approved

Two new strategic investments worth over 1.2 billion euros were approved on Friday by Greece’s Interministerial Committee of Strategic Investments.

They were Microsoft Hellas’ “Investment in Data Centers in Greece” and Terna Energy’s “Hybrid Project of (Amarion) River’s Dam,” which are expected to generate 410 jobs between them.

Participants in the approval committee included the ministers of Development & Investments, Finance, Environment & Energy, and Culture & Sports, among others. Microsoft Operations Hellas will be responsible for creating three data centers in the Attica region.

The cost is estimated at over €976 million and the project is expected to create 300 jobs over a decade. TERNA Energy’s project relates to building a hybrid station (wind and water) using the power of 26 wind turbines and combining it with a controlled operating system. The cost is estimated at €240 million and the project is expected to create 110 new jobs.

Development & Investments Minister Adonis Georgiadis said the Microsoft investment “will establish Greece as an international data center hub, which along with other investments following this will create a new digital economy in which Greece will play a leading role. We are very proud to have reached this point, and I personally want to publicly thank Alternate Minister Nikos Papathanassis for his contribution in this particular investment.”

For his part, Papathanassis said the investments “are an important indication that despite the constant crises Greece is facing, it is on a path to a strong and viable development.”