Google commits €13 billion to Finnish AI infrastructure with nuclear deal

Summary

• Largest European investment: Google will invest €13 billion in Finland during 2027 and 2028, its largest single investment in Europe, expanding digital infrastructure and supporting clean-energy projects across four locations.
• 22-year nuclear agreement: Google has signed a 22-year power purchase agreement with Fortum covering up to 50% of the capacity of the Loviisa nuclear power plant, supporting its planned operation through 2050.
• Broader energy strategy: The expansion also includes 629 MW of new-to-grid onshore wind capacity and a 94 MW battery system near Kajaani to support Finland’s electricity system.

HELSINKI, September 9, 2026 — Google will invest €13 billion in Finland over 2027 and 2028 to expand its digital infrastructure, support clean-energy projects and develop partnerships around its data centre operations, marking the company’s largest single investment in Europe.

The investment will cover Google’s existing data centre presence in Hamina and infrastructure and partnerships in Kajaani, Muhos and Vaala. Google said the expansion is intended to meet growing demand for services including Search, Maps and Gemini.

Alongside the investment, Google and Finnish utility Fortum have signed a 22-year nuclear power purchase agreement designed to provide long-term revenue certainty for the extension and upgrading of Fortum’s Loviisa nuclear power plant.

The agreement will begin with a smaller contracted volume in 2028 and reach 50% of Loviisa’s generation capacity from 2030 through 2049. The arrangement supports Fortum’s plan to keep the plant operating through 2050.

The agreement is Google’s first nuclear power agreement outside the United States and comes as technology companies seek reliable, low-carbon electricity to support rapidly expanding AI and cloud infrastructure.

Loviisa extension gets long-term revenue visibility

Fortum has an approximately €1 billion investment programme aimed at extending the operating life of Loviisa to 2050.

The company said about 80% of the projects and approximately €700 million of the capital expenditure required to keep the plant operating through 2050 remain subject to investment decisions.

The agreement with Google provides long-term revenue certainty for the investment programme. Fortum expects the PPA to increase its comparable return on net assets by approximately 1.4 percentage points over time once 50% of the plant’s generation capacity is contracted.

Fortum also said the agreement is expected to support a 10 MW increase in the plant’s capacity, in addition to a previously planned 38 MW uprate expected to become operational in 2028.

Loviisa currently supplies about 10% of Finland’s electricity. The plant has two reactors, commissioned in 1977 and 1980, and produces approximately 8 terawatt-hours of electricity annually.

Google described the nuclear agreement as part of a wider effort to support reliable and affordable electricity as it expands its AI and digital infrastructure in Finland.

Four-location expansion strengthens Google’s Finnish footprint

The €13 billion investment will support Google’s infrastructure across Hamina, Kajaani, Muhos and Vaala.

Hamina has been a Google data centre location for 15 years, following the company’s conversion of a former paper mill into a data centre.

Google said the new investment will support more than 37,000 jobs nationwide during the initial construction phase in 2027 and 2028 and contribute an average of €3.6 billion annually to Finland’s GDP during that period. Once the facilities are operational, they are expected to support thousands of permanent jobs.

Google is also committing €31 million over four years to local community programmes in Hamina, Kajaani, Muhos and Vaala, including education, economic development and energy-related initiatives. The company plans to work with local colleges on AI skills programmes for more than 4,400 workers and create training opportunities for 100 Finnish students for future data centre careers.

Wind and battery projects complement nuclear power

Google’s energy strategy extends beyond nuclear generation.

The company is supporting two onshore wind projects developed by Valorem and Suomen Hyötytuuli, bringing the total amount of new-to-grid onshore wind capacity it has contracted in Finland to 629 MW.

Google is also enabling a 94 MW battery energy storage system near Kajaani, which is expected to become operational in late 2027.

The battery is designed to help balance Finland’s electricity system and reduce price volatility during periods of tight supply, including cold and windless conditions. Google also plans to work with partners to make its wind portfolio available for grid-balancing services.

The company said it is also exploring demand-response measures that could temporarily reduce data centre electricity consumption during periods of grid stress.

Finland positions itself as an AI infrastructure hub

The investment strengthens Finland’s position as a European location for energy-intensive digital infrastructure.

Google said Finland’s combination of a relatively low-carbon electricity system, established industrial infrastructure and long-standing data centre operations provides a foundation for further AI investment.

The nuclear agreement also demonstrates how hyperscalers can use long-term electricity contracts to support existing low-carbon generation while securing reliable power for growing data centre demand.

Fortum and Google have separately signed a memorandum of understanding covering potential cooperation on new nuclear generation, renewable energy, flexibility solutions and energy portfolio management services.

Why this matters

• AI power demand: Google’s expansion highlights the growing electricity requirements associated with AI and cloud infrastructure.
• Nuclear life extension: The long-term PPA provides Fortum with revenue visibility to support investment needed to keep Loviisa operating through 2050.
• Energy diversification: Combining nuclear power, wind generation and battery storage gives Google’s Finnish expansion a broader clean-energy portfolio.
• European investment: The €13 billion commitment represents Google’s largest single investment in Europe.
• Finnish economy: Google expects the construction phase to support more than 37,000 jobs nationwide and contribute €3.6 billion annually to Finland’s GDP.

FAQs

Q1: How much is Google investing in Finland?

Google plans to invest €13 billion during 2027 and 2028 in digital infrastructure, clean-energy projects and related partnerships across Finland. It is the company’s largest single investment in Europe.

Q2: What does Google’s nuclear agreement with Fortum cover?

The 22-year PPA covers up to 50% of Loviisa nuclear power plant’s capacity. It begins with a smaller contracted volume in 2028 and reaches 50% from 2030 through 2049.

Q3: Why is the Loviisa agreement important for Fortum?

Fortum is undertaking an approximately €1 billion investment programme to extend Loviisa’s operating life through 2050. The Google agreement provides revenue certainty supporting those investments.

Q4: What renewable energy is included in Google’s Finnish expansion?

Google has contracted 629 MW of new-to-grid onshore wind capacity through projects developed by Valorem and Suomen Hyötytuuli. It is also enabling a 94 MW battery system near Kajaani.

Q5: How many jobs will the investment support?

Google expects the construction phase in 2027 and 2028 to support more than 37,000 jobs nationwide. Once the facilities are operational, the company expects them to support thousands of permanent jobs.