HELSINKI [Agency Report]: Google will invest at least €13 billion ($15.1 billion) in artificial intelligence infrastructure in Finland over the next two years, marking the technology giant’s largest investment of its kind in Europe and expanding its access to low-carbon energy.
The company has also signed its first nuclear power purchase agreement outside the United States. Under the 22-year arrangement, Google will be able to purchase up to 50% of the electricity generated by one of Finland’s two nuclear power plants, according to plant operator Fortum.
The agreement comes as technology companies race to secure reliable electricity for data centres that support increasingly power-intensive artificial intelligence services. Finland’s combination of abundant low-emission electricity and a cool climate has made it an attractive location for such facilities, helping companies manage both energy consumption and emissions.
“This is Google’s first nuclear energy deal outside of the United States, and we think it’s a really important cornerstone to everything that we are doing here,” Google Chief Investment Officer Ruth Porat told reporters in Helsinki.
Google and Fortum will also examine opportunities to develop additional nuclear and renewable energy capacity in Finland.
The planned investment, scheduled for 2027 and 2028, will cover data centres, electricity grid upgrades, clean-energy initiatives and battery projects supporting products and services including Gemini, Search, Maps and YouTube.
Google estimates that the construction activity will contribute around $3.6 billion to Finland’s gross domestic product and, once the infrastructure is operational, support approximately 7,000 jobs annually.
“The new digital infrastructure will serve as building blocks for Finnish and broader European digital readiness, innovation, and AI development,” Google said.
Finnish Prime Minister Petteri Orpo described the decision as evidence of the country’s economic and technological strengths.
“The value of the data economy extends far beyond direct investment into spurring innovation, research, and development,” Orpo said.
The nuclear power agreement is linked to Fortum’s Loviisa plant, which is located near Google’s existing data centre in Hamina. Fortum said the long-term electricity purchase arrangement would provide greater economic certainty for extending and upgrading the Loviisa facility through 2050.
Fortum shares rose 10% by 0825 GMT, significantly outperforming the 1.4% gain in Helsinki’s benchmark stock index.
The Finnish expansion comes as Alphabet increases spending to keep pace with surging demand for computing capacity driven by artificial intelligence. The company raised its projected global investment this year to between $195 billion and $205 billion.
For Finland, the investment represents a major expansion of digital infrastructure while strengthening the role of nuclear and renewable energy in meeting the electricity needs of large-scale technology facilities.
Finland’s cold weather is another advantage for data-centre operators because lower ambient temperatures can reduce the electricity required to manage the heat generated by computing equipment.
