Pantheon Atlas has announced Pantheon AI, a hyperscale data center that will run entirely on solar and storage
Associated transmission infrastructure will enable the integration of up to 5.2 GW of renewable energy into the local grid
The project is backed by US institutional investors and high-net-worth individuals
Transatlantic investment group Pantheon Atlas LLC has announced plans to develop Pantheon AI, a €50 billion hyperscale data center and innovation campus in Topusko, Croatia. The campus is planned to be fully powered by an on-site 500 MW solar and 2 GW/8 GWh battery storage facility.
Pantheon AI is designed as a 1 GW data center campus with 800 MW usable IT load. It will be built to accommodate NVIDIA GW Scale AI Factory standards, according to the promoters.
For the behind-the-meter (BTM) solar-plus-storage project, Pantheon has signed a letter of intent with KKR-backed Spanish renewable energy developer Greenvolt International Power. The construction of a purpose-built substation will be carried out by the local Croatian electrical and energy company Eastdil Secured.
The associated transmission infrastructure is expected to enable the integration of up to 5.2 GW of renewable energy into Croatia’s national grid.
It will address the growing electricity demand from AI-driven data centers, according to Pantheon Atlas, an investment vehicle for a group of US institutional investors and high-net-worth individuals. They call it the largest investment in Croatian history and among the largest private US investments in Europe.
Initially budgeted at €12 billion, the project is targeted to enter construction in early 2027 and ramp up to full operations by Q1 2029. Investors estimate total investment to exceed €50 billion as hyperscale tenants deploy equipment and technology at scale.
It will position Croatia as a regional hub for digital infrastructure, they add.
The development ‘inside NATO and EU territory’ aims to address a capacity gap in Europe, where rising demand for data processing has outpaced the availability of power and infrastructure.
“We have lined up the power, fiber, regulatory stability, and institutional support to solve that problem in Europe, and we will establish Croatia and Central Europe as a premier destination for world-class digital infrastructure,” said Pantheon AI Managing Partner Ryan Rich.
Electricity demand from energy-guzzling AI and data centers is on the rise. Big-league hyperscalers are already investing in clean-energy assets, including battery storage to ensure enough supply for their data centers. Earlier this year, Google entered a 15-year deal with TotalEnergies for 1 GW solar power supply for its Texas data center after acquiring Intersect Power to support faster growth of power generation infrastructure (see Google Locks In 1 GW Solar PV Supply For US Data Centers).
Meta just went one step ahead and reserved up to 1 GW of space-based solar power to support its growing AI data center energy needs in the US under an Overview Energy deal (see Meta Blocks Up To 1 GW Space-Based Solar Power).