Google Bets €13 Billion on Finland to Power AI Boom With Nuclear Energy

Google plans to invest at least €13 billion in AI infrastructure in Finland across 2027 and 2028 and has agreed to buy up to half the output of the Loviisa nuclear plant under a 22-year power purchase deal with Finnish utility Fortum. The agreement helps fund a life‑extension and upgrade program keeping Loviisa online through 2050 and is Google's first nuclear power contract outside the United States.

By AI NewsroomPublished about 1 hour agoUpdated about 1 hour ago0 views

Why It Matters

The pact ties a major tech company’s AI expansion to long-term nuclear power supply, securing electricity for large data center growth while underwriting a nuclear plant upgrade that preserves a significant share of Finland’s generation capacity. The investment also represents Google’s largest single European spend and could reshape local economic and energy planning.

Key Facts

Investment size: c13 billion (at least) in 2027-2028
Power purchase agreement length: 22 years
Share of Loviisa output: Up to 50%
Loviisa life extension: Planned to run through 2050
Loviisa share of Finland's electricity: About 10%

Google will channel at least c13 billion into expanding AI-focused data center infrastructure in Finland over 2027 and 2028 and has signed a 22-year power purchase agreement with Fortum for as much as half of output from the Loviisa nuclear plant, the companies said. The deal is the first time Google has contracted nuclear energy outside the United States and is part of Alphabet’s broader capital plan for 2026.

Fortum says the contract finances a program of upgrades and life-extension work that will allow Loviisa to operate through 2050; without the funding the plant would have faced a shutdown after 2030, the company added. Loviisa currently supplies roughly 10% of Finland’s electricity and employs nearly 600 people. Fortum shares climbed about 10% within hours of the announcement.

The investment expands Google's existing Hamina campus and creates three new data center sites in Kajaani, Muhos and Vaala. Google estimates construction activity in 2027-2028 will add about c3.6 billion per year to Finland’s GDP and support over 37,000 jobs during the build phase, including roughly 16,000 in construction, with about 7,000 permanent positions expected once the facilities are operational.

Alongside the nuclear contract, Google also signed agreements for onshore wind capacity totaling 629 megawatts and a 94-megawatt battery system near Kajaani, both slated to come online by late 2027. The company’s moves come amid scrutiny of tech-sector emissions: a tracker from Climate Power rated Google 61 out of 100 on clean-energy use in August, and the combined data center operations of Google, Amazon and Microsoft emitted about 19 million metric tons of CO2e last year.

Corporate long-term nuclear contracts are becoming more common: Microsoft has a 20-year, 835-megawatt deal to restart Three Mile Island Unit 1, and Amazon holds a 1,920-megawatt supply agreement at the Susquehanna plant. Google’s agreement in Finland ties a major AI buildout to contracted nuclear and renewable generation, marking a notable example of how tech firms are securing long-term power for expanding data center footprints.