Google Commits €13 Billion to Finnish Data Centers and Nuclear Power
Google will invest €13 billion in Finnish infrastructure, securing a 20-year power deal with Fortum's Loviisa nuclear plant to support new data centers.
Key points
- Google is investing €13 billion in four Finnish municipalities to build and expand data centers between 2027 and 2028.
- A 20-year power deal secures 50% of Loviisa nuclear plant output, enabling Fortum to fund a €1 billion lifetime extension.
- The project will support 37,000 jobs during construction and add €3.6 billion to Finland’s annual GDP in the initial phase.
Google has finalized a €13 billion investment plan for data center construction in Finland, marking its largest single infrastructure commitment in Europe. The expansion, scheduled for 2027 and 2028, will expand the existing Hamina campus and establish new facilities in Kajaani, Muhos, and Vaala. According to Industrial Info Resources, this move contributes to a broader sector trend, with 121 active data center projects in Finland currently valued at nearly US$69 billion.
To power this expansion, Google has signed a 20-year power purchase agreement with Fortum for 50% of the output from the Loviisa nuclear power plant. This offtake deal secures the financial viability of the plant’s lifetime extension and upgrade program, which Fortum estimates requires €1 billion in capital investment to remain operational beyond 2030. The agreement provides long-term economic certainty for the asset, which currently employs 580 people and supplies 10% of Finland’s total electricity.
Nuclear Securitizes Data Center Power Supply
The partnership directly links corporate cloud infrastructure to fossil-free energy generation. By contracting for half of Loviisa’s capacity through 2050, Google ensures a stable, low-carbon power source for its compute needs. Fortum stated that without this guaranteed revenue stream, the plant could not justify the necessary modernization costs, highlighting the dependency of large-scale tech infrastructure on reliable, long-duration baseload power.
Economic Impact Across Four Municipalities
The construction phase is projected to support over 37,000 jobs nationwide and contribute €3.6 billion annually to Finland’s GDP during the build-out period. Google’s vice president for global infrastructure, Bikash Koley, noted that the company has operated in Finland for 15 years, transforming a former paper mill in Hamina into a key data hub. The investment is designed to meet growing demand for core services, including Search, Maps, and Gemini, while deepening the company’s operational footprint in the region.
Government Backs Digital Infrastructure Growth
Prime Minister Petteri Orpo described the announcement as a strong vote of confidence in Finland’s stable operating environment and skilled labor force. He emphasized that data centers are critical infrastructure for artificial intelligence and cloud services, requiring countries to compete effectively in the global market. The government views the project as foundational to the nation’s digitalization strategy, ensuring that international competition for such investments remains favorable for domestic stakeholders.
