A Dutch technology firm born from the ashes of a Russian internet giant has started recruiting across multiple technical roles in Estonia, triggering speculation that a major data center deal hangs in the balance. No one will confirm anything on the record, but the timing has set off alarms across the country’s rapidly maturing digital infrastructure sector.
Nebius, headquartered in Amsterdam after restructuring away from Yandex, posted openings for data center IT managers, infrastructure engineers, senior technicians, and logistics specialists. The job listings landed just as Greenergy Data Centers in Hüüru revealed plans to build out capacity specifically for artificial intelligence workloads. That coincidence proved too loud to ignore.
When pressed about a potential Nebius partnership, Greenergy executives deflected carefully. Large-client segment manager Martin Rungi sidestepped the question while acknowledging that the facility has barely scratched its 300-megawatt potential. He confirmed the sales team pursues every heavyweight name in the public conversation: Amazon, Microsoft, Google. Still, he insisted concrete agreements remain locked behind nondisclosure agreements. Most clients operate as publicly traded companies with strict disclosure rules, so Greenergy stays silent until they speak first.
Meanwhile, Sunly continues developing what would become the Baltic region’s largest data center in Läänemaa. Energy center development manager Kaarel Aus pointed to a marketwide squeeze on electrical capacity. Grids across Western and Central Europe have no short-term room left, which pushed attention toward Scandinavia and Finland. Now those grids are filling up too, forcing operators to hunt for new territory.
Both Rungi and Aus see a gravity effect at work: land one anchor tenant, and others will follow. Aus warned that hesitation could prove costly. If Western European grids modernize before Estonia secures a commitment, the window closes. Rungi noted that competitors abroad dangle tax incentives while Estonian newcomers receive no export promotion support. The upside, however, would reshape the national economy. Running data centers at full potential using local electricity and high-value expertise could pump billions of euros annually into the country’s GDP.
Geopolitical baggage complicates the picture. Nebius carries scrutiny because of its Yandex origins, though Rungi stressed the company has already earned trust from Meta, Microsoft, Nvidia, and the U.S. government. Estonia’s proximity to Russia also unsettles some foreign prospects, but Aus countered that NATO and EU membership provide a stabilizing counterweight during negotiations.
For now, the industry watches and waits. Rungi described the rhythm of his business with a single phrase: first the egg, then the cackle. What hatches next remains anyone’s guess.
