Pantheon Atlas LLC, a transatlantic investment group, has announced plans to develop Pantheon AI, a hyperscale artificial intelligence data center and innovation campus in Topusko, Croatia, representing more than USD 58.50 billion in total investment. The project has been described as the largest investment in Croatian history and among the largest private U.S. investments in Europe.

The announcement was made at the Three Seas Initiative Summit in Dubrovnik, an event attended by 13 presidents and prime ministers, as well as Chris Wright, United States Secretary of Energy.

Scale and Location

The campus will be situated in Topusko, approximately 45 minutes from Zagreb, on a 310-acre site expandable to 450 acres. Designed in accordance with NVIDIA GW-Scale AI factory standards, the facility will deliver 1 gigawatt of total capacity with 800 MW of usable IT load.

The project is engineered to achieve above Tier IV resilience, which the developers describe as representing the highest levels of availability in Europe.

The initial campus phase carries a price tag of USD 14 billion, with total investment projected to exceed USD 58.50 billion as hyperscale tenants deploy equipment and technology at scale. Construction is scheduled to begin in early 2027, with full operations expected by the first quarter of 2029.

The project is anticipated to create 1,500 permanent jobs upon completion and an additional 3,000 roles during the construction phase.

Addressing a European Infrastructure Gap

According to the developers, the project is conceived as a direct response to a structural capacity shortfall in European digital infrastructure. Surging AI-driven demand has outpaced available power, land, and construction resources across the continent.

Europe's established data center hubs are operating below 8% vacancy, and significant grid connection delays have compounded pressure on the sector.

Central and Eastern Europe is a particular focus of concern. Data center electricity demand in the region is projected to grow three to four times by 2035, yet the area currently lacks a gigawatt-scale, AI-optimized facility to meet that demand.

EU data sovereignty regulations are also compelling major technology companies to store European data within EU borders, adding further urgency to the expansion of local digital infrastructure capacity.

Power and Connectivity Infrastructure

The facility will be fully supplied by renewable energy. Plans include an on-site 500 MW solar plant and 8,000 MWh of battery storage. Beyond its own energy needs, the campus will integrate up to 5.2 GW of renewable energy onto Croatia's national grid through four independent 400kV transmission lines.

On the connectivity side, the campus will feature four independent fiber routes across three major EU corridors. A GreenMed subsea cable is planned to extend the facility's reach to Milan by 2028.

Partners and Advisors

The project has assembled a range of institutional partners across energy, engineering, legal, and financial disciplines. Greenvolt International Power, a European renewable energy developer with a KKR majority ownership stake, has signed a letter of intent to build the on-site solar and battery storage infrastructure.

Končar Group has been engaged for substation development, and Parsec Lab will handle data center design and engineering. Eastdil Secured is serving as the data center advisor.

Legal counsel is being provided by Latham & Watkins and Hodgson Russ. PwC and KPMG are acting as financial advisors. Sisak-Moslavina County has formally recognized the project as being of special importance to the region.

Statements from Project Leadership and U.S. Officials

Ryan Rich, Managing Partner of Pantheon AI, framed the project as a solution to one of the most pressing challenges in global digital infrastructure. "We have assembled a transatlantic partnership to solve one of the most pressing challenges in global digital infrastructure: enabling hyperscale operators to meet AI-driven demand at scale," Rich said.

"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."

Jako Andabak, Founding Partner of Pantheon AI, described the campus as the product of years of preparatory work. "Pantheon AI is a signal to the world that Croatia is open for the highest-caliber investment.

This project is the culmination of years of work to bring world-class digital infrastructure to Croatia, and we have assembled the deep local expertise, grid relationships, and regulatory groundwork required to meet demand for data center capacity," Andabak said.

Joshua Volz, Special Envoy for Global Energy Integration at the U.S. Department of Energy, offered a geopolitical framing of the investment. "The race to lead in artificial intelligence is global, and we are pleased to see American capital and investment expertise like Pantheon AI anchoring that leadership in allied, democratic nations," Volz said.

"Critical infrastructure of this scale, built by the private sector responding to real market demand, is exactly how US interests and European security advance together."

Europe's Data Center Pipeline Is Moving Fast — Are You Keeping Up?

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