Europe's data center market is still expanding, but the geography of investment is changing. An August analysis by Data Center Forum Romania, drawing on CBRE and JLL data, found that only 252 megawatts — 37 percent — of nearly 700 megawatts delivered in the second quarter went to Frankfurt, London, Amsterdam, Paris and Dublin. The rest went to secondary and tertiary markets.
CBRE expects European capacity to grow by roughly 20 percent in 2026, to 13 gigawatts, while hyperscaler self-build capacity rises 22 percent, to 4.3 gigawatts. Capacity contracted by so-called neocloud companies reached 420 megawatts, four times the year-earlier level, with much of it in the Nordic countries because renewable power is cheaper there.
For Romania, the shift creates an opening, not a guarantee. Competitive land, fiber connectivity and operating costs are useful; capital still follows sites with contracted electricity, credible grid timetables and permitting clarity. The industry's central scarcity is no longer demand. It is deliverable power.
