Greece plans to charge new data centres an annual €15,000 per MW levy and require developers to secure renewable electricity from new domestic generation. The measures are part of electricity-market legislation submitted to parliament on October 31 and remain subject to parliamentary approval. Developers would also have to fund their grid connections and provide financial guarantees of €200,000 per MW.
At least 60% of a facility’s annual electricity consumption would need to be covered by qualifying new renewable generation. For a 100 MW data centre, the proposed levy would total €1.5 million a year, in addition to a €20 million grid-connection guarantee and the cost of associated electrical infrastructure. The guarantee is financial security, not an upfront non-refundable fee, but obtaining it could tie up liquidity or banking capacity during development.
The framework would shift Greece’s approach to electricity-intensive digital infrastructure from conventional grid-access approvals towards greater developer responsibility for new electricity capacity, network costs and benefits to host communities. For infrastructure investors, data-centre financing would increasingly depend on integrating computing facilities, dedicated electricity supply and long-term network-access rights.
Annual levy would be based on maximum electricity capacity
The proposed €15,000/MW annual levy would be calculated using a data centre’s maximum electricity-consumption capacity and become payable when the facility starts operating. Its revenue would benefit residential electricity consumers and municipalities in areas hosting the installations, providing a way to share part of the financial benefits of large digital infrastructure investments with local communities. The recurring charge would be based on contracted or installed capacity, rather than actual annual electricity use.
A 100 MW installation would owe €1.5 million annually, or €15 million over ten years before any subsequent changes to the regulatory framework. For a 300 MW installation, the annual obligation would be €4.5 million. These amounts would be separate from electricity procurement, network tariffs, maintenance, cooling infrastructure and other operating expenditure.
The levy could affect site selection, investment returns and infrastructure leasing arrangements, particularly where electricity capacity is reserved before a facility reaches full commercial utilisation. Data centres already operating and connected to the electricity network would be exempt. For new projects, however, the charge would be an additional element in long-term financial modelling.
Renewable supply must come from new generation
At least 60% of annual electricity consumption would have to come from renewable energy generated by new installations connected to Greece’s interconnected electricity system. The requirement is intended to prevent large data centres from meeting their obligations solely through existing renewable generation. Eligible installations would need to meet defined development conditions and be operational no later than the date the data centre is energised.
If the required renewable generation or associated storage infrastructure were not operational, energisation of the data centre could be suspended until the obligations were met. The legislation would also restrict operating subsidies for the portion of qualifying generation and storage capacity used to satisfy the data-centre requirements. The 60% obligation would be calculated annually, rather than requiring hourly matching of generation and consumption.
Annual accounting would allow more flexibility in electricity procurement but would still entail substantial development and contractual obligations. Under specified conditions, a ministerial decision could adjust the renewable share, including for arrangements involving non-solar renewable technologies or generation combined with storage. Renewable procurement would therefore form part of the initial project structure, rather than being left until after construction.
Connection applications would carry guarantees and infrastructure costs
Developers applying for electricity-grid connection capacity would still have to provide a €200,000 per MW financial guarantee. The mechanism is intended to deter speculative applications that reserve scarce network capacity without adequate evidence of financial or technical maturity. A developer seeking a 200 MW connection would need a €40 million guarantee, while a 300 MW project would require €60 million.
Applicants would also face stricter documentation requirements covering project maturity, financial capacity, land rights and permitting. Developers would bear the full cost of connection works and network reinforcements required exclusively by their facilities. Their financing obligations would therefore include construction, grid connection, credit support for capacity applications and long-term electricity procurement.
Lenders would need to consider these obligations alongside the creditworthiness of intended computing customers and the timetable for filling the facility. A project could secure land and technology partners but still face significant development risk if the necessary electricity infrastructure could not be completed on schedule. A delay in delivering renewable generation required under the rules could also postpone operating revenue for the entire investment.
Projects above 200 MW face additional requirements
The draft legislation sets out special treatment for electricity-connection applications exceeding 200 MW. Such projects could receive priority assessment if accompanied by qualifying new dispatchable generation or electricity-storage infrastructure that meets specified technical and capacity requirements. Under detailed eligibility rules, the additional infrastructure would need to correspond to at least 80% of the proposed data centre’s maximum electricity-consumption capacity.
The provisions address the demands that large, continuous electricity loads can place on transmission infrastructure. For major international investors, priority network assessment could require investment in substantial energy infrastructure alongside the digital facility, potentially favouring developers experienced in financing and coordinating complex electricity and industrial projects. It could also create opportunities for partnerships among data-centre operators, electricity utilities and infrastructure funds.
Priority assessment would not itself guarantee grid capacity or completion of the required investments. The outcome would depend on the availability of capacity and delivery of the associated infrastructure.
Financing would cover both digital and electricity infrastructure
The proposed framework could change how banks evaluate data-centre investments. Financing has traditionally focused on construction expenditure, equipment, customer contracts, operational reliability and long-term infrastructure revenues. Under the Greek model, lenders would also need to assess renewable-generation schedules, grid-connection guarantees, network-reinforcement costs and the risk of delayed energisation.
Coordination between electricity and computing infrastructure would be particularly important. A delay to an associated renewable project could prevent commercial operations from starting even if the building and computing equipment were complete. Lenders would need integrated technical due diligence covering electricity-load studies, connection agreements, renewable procurement arrangements and construction-interface risks.
Financing agreements might also require clearer provisions on delays, completion tests, contingent liabilities and responsibility for meeting electricity-supply obligations. The framework could favour developers able to arrange coordinated financing for digital and electricity infrastructure.
Requirements add a regional factor in data-centre investment
Greece’s proposal has wider implications for Romania, Serbia, Bulgaria, Croatia and Montenegro, where data-centre and digital-infrastructure investment could become increasingly important to electricity-demand growth. The countries have different electricity systems, regulatory frameworks and levels of infrastructure readiness. Investors comparing locations would need to consider more than electricity prices and land availability.
Grid-connection certainty, reliable power access, telecommunications infrastructure, regulatory conditions and the financial cost of securing electricity capacity could become decisive factors. For Serbia, the proposal provides a reference point for assessing large industrial and digital infrastructure investments in a market where grid access and the timing of network development are important investment constraints. Romania and Bulgaria could also compete for regional data-centre investment, with EU market access and established industrial infrastructure.
Montenegro’s potential would depend on the scale and location of suitable projects and the ability to support additional electricity demand without disproportionate network investment. Greece’s proposed requirements would not apply in these neighbouring markets. They nevertheless illustrate how governments may seek to make new electricity-intensive investments bear a greater share of the infrastructure costs they create.
Electricity access becomes central to project development
The proposed legislation signals a changing relationship between the energy sector and the digital economy. For data-centre developers, reliable electricity access is becoming a strategic infrastructure asset requiring dedicated financing, regulatory approvals and long-term contractual commitments. For electricity companies, commercial opportunities could extend beyond supplying megawatt-hours to preparing grid-ready sites, developing qualifying electricity supply, building electrical infrastructure and structuring integrated investments with international technology companies.
For banks and infrastructure funds, projects able to demonstrate secure electricity access, coordinated generation development and credible long-term computing demand could be the most valuable. The proposed annual levy and stricter renewable requirements would add upfront complexity and recurring costs, while potentially distinguishing financially credible investments from speculative applications for scarce grid capacity. The legislation’s final provisions and implementation rules will determine the full financial consequences.
AI infrastructure investment is becoming increasingly linked to electricity-infrastructure finance, with grid capacity, energy supply and regulatory obligations affecting which projects are commercially bankable. In Southeast Europe, competition to attract data centres could depend less on offering the lowest electricity price and more on providing dependable, financeable electricity infrastructure within the timetable required by international technology investors.