EditPantheon AI: €50bn campus poised to make Croatia the digital powerhouse of Central and Eastern Europe
For Central and Eastern Europe, the message is clear: the future of digital infrastructure is being built here - and it is powered by transatlantic ambition
In a high-profile ceremony on the sidelines of the Three Seas Initiative Summit and Business Forum, Pantheon Atlas LLC and Sisak-Moslavina County signed a landmark cooperation agreement to develop Pantheon AI – a gigawatt-scale AI data center and innovation campus in Topusko that represents the largest single private investment in Croatian history and one of the most significant U.S.-led private investments in Europe.
The €50 billion+ project – with an initial €12 billion campus phase – is being hailed as the biggest investment in the history of Central and Eastern Europe. It will position Croatia as a strategic NATO- and EU-based hub for advanced digital infrastructure, addressing the explosive demand for AI computing capacity across the continent.
U.S. Ambassador to Croatia Nicole McGraw captured the moment in a public statement: “Congratulations to Pantheon Atlas LLC and Sisak-Moslavina County for signing a cooperation agreement for an AI data center that represents the largest single private investment in Croatia’s history. This data center, which will bring 50 billion EUR in total investment, will provide tangible benefits and position Croatia as a leading hub for digital infrastructure. Proud to see American capital and expertise strengthen our shared security and prosperity.”
Congratulations to Pantheon Atlas LLC and Sisak-Moslavina County for signing a cooperation agreement for an AI data center that represents the largest single private investment in Croatia’s history. This data center, which will bring 50 billion EUR in total investment, will… pic.twitter.com/q1z4WfvoHn
— Ambassador Nicole McGraw (@USAmbCroatia) April 28, 2026
The announcement, made in the presence of 13 presidents and prime ministers as well as U.S. Secretary of Energy Chris Wright, underscores the project’s geopolitical weight. It aligns American investment with European energy security and technological sovereignty at a time when AI infrastructure is becoming a cornerstone of national competitiveness.
A Gigawatt-scale AI factory built to NVIDIA standards
Pantheon AI will deliver 1 GW of total power capacity, with 800 MW of usable IT load, engineered precisely to NVIDIA’s GW-Scale AI Factory specifications. The 310-acre campus (expandable to 450 acres) in Topusko – just 45 minutes from Zagreb – sits on open land chosen to minimize local disruption while providing room for future growth.
Key technical highlights include:
- Above Tier IV resilience – the highest availability standards in Europe.
- Four independent 400 kV transmission lines and a purpose-built substation (supported by Croatian partners Končar Group and Dalekovod Projekt), enabling the integration of up to 5.2 GW of new renewable energy into Croatia’s national grid.
- Full renewable energy supply via an on-site 500 MW solar plant and 8,000 MWh (2 GW / 8 GWh) battery energy storage system, developed under letter of intent by Greenvolt International Power (majority-owned by global investment firm KKR). The facility will operate 100 % behind-the-meter on clean power.
- World-class connectivity: Four independent fiber routes spanning three major EU corridors, plus the upcoming GreenMed subsea cable linking directly to Milan by 2028.
Construction is scheduled to begin in early 2027, with full operations targeted for the first quarter of 2029. Additional state and local infrastructure investments – including 280 km of new transmission lines, road upgrades, and optical-fiber networks – are estimated at €500 million.
🇭🇷Croatia is receiving the largest investment in the history of Central and Eastern Europe, the Pantheon Project worth 50 billion euros is underway.
An AI development and innovation center, known under the working name Project Pantheon, will be built in the area of Topusko in… pic.twitter.com/DkUcHKaCWH
— Daily Croatia 🇭🇷 (@DailyCroatia) April 28, 2026
Massive economic and employment impact
The project is expected to generate 3,000 jobs during the construction phase, 1,500 permanent high-skilled positions once operational, and indirectly support another 6,000 roles in the broader economy. Topusko and Sisak-Moslavina County have already formally recognized the development as being of “special importance” to the region, committing full local support.
Beyond direct employment, Pantheon AI is projected to catalyse further private investment, strengthen the national electricity grid, unlock currently stranded renewable capacity, and potentially lower long-term electricity prices by increasing private power producers on the network.
Transatlantic partnership meets local expertise
Pantheon Atlas LLC serves as the investment vehicle for a consortium of U.S. institutional investors and high-net-worth individuals. The project combines American capital with deep Croatian know-how:
- Local partners: Končar Group (substation and engineering), Parsec Lab Zagreb (data-center design and engineering), Ravel Ltd., and Dalekovod Projekt.
- International advisors: Eastdil Secured (project and tenant advisory), Latham & Watkins and Hodgson Russ (legal), PwC and KPMG (financial).
- Renewables: Greenvolt International Power / KKR.
Founding Partner Jako Andabak emphasized the collaborative spirit: “We entrusted the project to domestic experts. I was pleasantly surprised by the number of highly skilled professionals capable of designing it, and in cooperation with Croatian industry, most of the project will be implemented locally.”
Ryan Rich, Managing Partner of Pantheon AI, added: “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.”
Joshua Volz, Special Envoy for Global Energy Integration at the U.S. Department of Energy, welcomed the private-sector initiative: “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.”
Končar CEO Gordan Kolak described the letter of intent as “a serious commitment” that will help Croatia shift from hydrocarbons toward domestic renewable energy sources.
Strategic timing for Europe’s AI boom
Europe’s established data-center markets are operating at vacancy rates below 8 %, with severe grid-connection delays. Central and Eastern Europe faces electricity demand for data centers projected to grow three to four times by 2035 – yet no gigawatt-scale, AI-optimized facility currently exists in the region. EU data-sovereignty rules further require major tech companies to keep European data inside EU borders.
Pantheon AI directly fills that gap, offering hyperscale operators a secure, sovereign, and renewable-powered location inside both NATO and the EU. Its location in a stable, well-educated EU member state with strong transatlantic ties makes it an ideal bridge between American innovation and European demand.
Caption: Artist view of the AI development and innovation center, known under the working name Project Pantheon, to be built in the area of Topusko in Sisak-Moslavina County, with a total installed capacity of one gigawatt. [@DailyCroatia on X]
Updated: April 29, 2026 - 06:39
