PPC and Amazon Web Services (“AWS”) signed a Memorandum of Cooperation (“MoU”), which defines the framework and the main terms for the development of a Data Center in Agios Dimitrios, in Western Macedonia (“Project”).
Within the framework provided for by the MoU:
- AWS leases the Data Center, upon completion of its construction, under a long-term lease of 15 years (subject to customary terms).
- PPC provides the land, the buildings, and the supporting energy infrastructure, while AWS installs and operates the information technology (IT) infrastructure.
- In the initial phase, the Data Center has a power supply capacity of 300 MW. PPC and AWS intend to explore its further expansion (up to 1 GW), subject to mutual agreement, market conditions, and the conclusion of further definitive agreements.
- AWS purchases and PPC supplies energy under long-term power purchase agreements (PPAs) from renewable sources (subject to customary terms), in line with Amazon’s goal of net-zero carbon emissions across all its operations by 2040.
At the same time, the two companies intend to examine the possibility of multi-year cooperation in the fields of cloud technologies and artificial intelligence (AI), with the aim of supporting PPC’s digital transformation.
The MoU is binding. The Project and all commercial terms (including the terms described above) are subject to the negotiation and signing of the definitive agreements, as well as the fulfillment of customary conditions, including the completion of due diligence, securing the required grid connection, and obtaining all necessary approvals from the competent authorities.