As power demand rises alongside the rapid expansion of artificial intelligence, cloud computing and digital infrastructure, renewable energy developers are increasingly positioning themselves to support the next phase of Europe’s digital economy. Against this backdrop, Abu Dhabi Future Energy Company (Masdar) has agreed to acquire and develop one of Greece’s largest solar projects, further strengthening its presence in the European renewables market.

The acquisition of the 550 MW-plus solar photovoltaic (PV) project from Lightsource bp marks another significant step in Greece’s energy transition while reinforcing the country’s ambitions to become a regional digital hub. Scheduled to enter commercial operation by the end of 2026, the project is expected to generate enough electricity to power more than 200,000 homes annually.

The investment comes as Greece seeks to leverage its strategic location between Europe, Africa and Asia, alongside growing investment in digital infrastructure, to attract data centres and other energy-intensive industries. Rising demand from AI applications, cloud services and digital platforms is placing renewed emphasis on the availability of reliable, affordable and low-carbon electricity.

Beyond solar generation, Masdar plans to integrate battery energy storage into the project, a move that will help improve grid stability and support higher levels of renewable energy penetration in Greece’s power system.

The company is also extending its role in the country’s digital infrastructure ecosystem. Masdar and Khazna Data Centres have signed an agreement to explore the development of green data centres in Greece, combining renewable energy generation, energy storage and digital infrastructure expertise. The partnership aims to evaluate dedicated clean power solutions capable of supporting future data centre capacity while enhancing energy security and investment opportunities.

“The UAE and Greece share a strategic partnership built on trust, long-term ambition and a commitment to mutual prosperity,” said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar.

He added that as AI and digital industries transform economies, secure access to affordable and reliable energy will become increasingly important for competitiveness and growth.

For Masdar, the transaction also aligns with its broader European expansion strategy. Chief Executive Officer Mohamed Jameel Al Ramahi described the project as a high-quality renewable energy asset that will be further enhanced through battery storage, while supporting long-term value creation.

The development will be integrated into Terna Energy, Masdar’s platform for growth across Southeastern and Central Europe, underscoring the company’s ambition to build a larger renewable energy portfolio in the region. 

“Our collaboration with Khazna builds on this foundation, exploring opportunities to power Greece’s growing digital economy with clean energy. Through Terna Energy, we are building a stronger renewable energy platform in Greece and the wider region, while creating long-term value for our shareholders, partners and the communities we serve,” he added.