Google announced plans to invest at least €13 billion ($15.1 billion) in AI infrastructure across Finland between 2027 and 2028, calling it the largest European investment in company history. New data centers are planned for Hamina, Kajaani, Muhos and Vaala.
To power the buildout, Google signed a 22-year power purchase agreement with Finnish utility Fortum for roughly half the output of the Loviisa nuclear plant, which currently supplies about 10% of Finland's electricity. The deal extends the reactor's operating life through 2050 and marks Google's first nuclear energy agreement outside the United States. Google also added new onshore wind contracts totaling 629 MW and plans a 94 MW battery storage system near Kajaani for late 2027.
Google estimates the construction phase will contribute €3.6 billion a year to Finland's GDP and support over 37,000 jobs, with 7,000 permanent roles once operational, paying roughly 24% above the national median wage. Fortum shares jumped more than 11% on the announcement.