Google invests €13 billion in Finland AI infrastructure, signs nuclear power deal

Sep 9, 2026

Alphabet's Google is investing €13 billion ($15.1 billion) in Finnish AI infrastructure, marking its largest single investment in Europe. To power three new data centers and an expanded facility in Hamina, Google signed a landmark 22-year contract with utility Fortum to purchase up to 50% of the Loviisa nuclear plant's output. This deal secures low-carbon energy for Google while unlocking €1 billion to extend the plant's life to 2050. The project will boost Finland's GDP by €3.6 billion and support over 37,000 construction jobs.

Google Finland AI infrastructure investment

▪Alphabet's Google announced a €13 billion ($15.1 billion) investment in artificial intelligence infrastructure in Finland, marking the company's largest single investment in Europe
▪Google will deploy the €13 billion capital in Finland during 2027 and 2028 to build three new data centers in Kajaani, Muhos, and Vaala, and expand an existing facility in Hamina
▪Google's Finnish infrastructure investment will fund electricity grid improvements, clean energy projects, battery projects, and dedicated local biodiversity, education, and research funds

Finland data center sector growth

▪Finland's data center sector is experiencing rapid expansion, with Pure DC planning a €1.5 billion campus, Arcem planning a 500-megawatt site, and Nebius building an AI factory
▪TikTok announced a $1 billion investment to build a new data center in Kouvola, Finland, citing the country's strong digital infrastructure and clean energy mix

Google-Fortum nuclear power agreement

▪Fortum and Google agreed to explore the development of new nuclear and renewable energy, including identifying new business models for potential new nuclear reactors at the Loviisa site
▪Google signed a 22-year power purchase agreement with Finnish utility Fortum to buy up to 50% of the energy output from the Loviisa nuclear power plant
▪The power purchase agreement with Google will help unlock €1 billion of investment needed to extend the operating lifetime and upgrade the Loviisa nuclear power plant through 2050

Finland tech investment advantages

▪Finland attracts data center developers due to its cool climate, which reduces server cooling costs, alongside its abundant low-carbon energy and relatively uncongested power grid
▪Technology companies are increasingly turning to nuclear power to secure low-carbon, round-the-clock electricity to meet the high energy demands of artificial intelligence data centers

Economic impact on Finland

▪Google's €13 billion investment is projected to contribute approximately €3.6 billion ($3.6 billion) to Finland's gross domestic product during its construction phase
▪Following the announcement of the Google deal on September 9, 2026, Fortum's share price rose by 10% to 11%, outperforming the broader Helsinki benchmark stock index

Job creation from investment

▪The construction phase of Google's data center projects in 2027 and 2028 is expected to support more than 37,000 jobs in Finland
▪Google's investment in Finland is projected to support approximately 7,000 jobs annually once the new digital infrastructure becomes operational