Google on September 9 announced a €13 billion ($15.1 billion) investment in Finnish digital infrastructure, clean energy and partnerships for 2027–2028, alongside a 22-year nuclear power agreement with Fortum. The commitment is Google’s largest single investment in Europe and gives the company access to as much as half of the Loviisa nuclear plant’s capacity from 2028.
Google commits €13 billion to Finnish AI infrastructure
Google said it will invest €13 billion, equivalent to $15.1 billion, in digital infrastructure, clean energy and partnerships in Finland over two years. The spending is tied to Google’s AI infrastructure ambitions in Finland. Google described the package as its largest single European investment.
Fortum PPA gives Google up to half of Loviisa’s output
Google and Fortum have signed a power-purchase agreement lasting 22 years. It starts in 2028 and covers up to 50% of Loviisa’s nuclear generation capacity, reaching that level during 2030–2049, according to Fortum’s announcement.
The Finnish agreement is Google’s first nuclear-power contract outside the United States, Reuters reported via CNA. It covers up to half the output from one of Finland’s two nuclear plants.
The phased structure means the agreement begins before Google reaches its maximum contracted share of the plant’s capacity. The deal sets out the 50% level for the 2030–2049 period rather than suggesting that share applies from the start of 2028.
Loviisa deal supports Fortum’s lifetime extension
For Fortum, the agreement is intended to provide revenue certainty for an approximately €1 billion program to extend Loviisa’s operating life. The utility said the program supports operations at the plant through 2050.
That link between contracted demand and the extension program puts the PPA at the center of Fortum’s stated financing rationale for keeping Loviisa in service over the longer term.
