Google to Invest 13 Billion Euros in Finland for AI and Nuclear Power
Google announces its largest European data center investment, committing at least 13 billion euros in Finland alongside a long-term nuclear power agreement.
KEY POINTS
- Google is investing at least 13 billion euros in Finland over the next two years.
- The project includes three new data centers and the expansion of the Hamina facility.
- Construction is planned for 2027 and 2028, creating an estimated 37,000 jobs.
- Google signed a 22-year deal to purchase up to 50 percent of the Loviisa nuclear plant's output.
Google announced a major European investment plan to commit at least 13 billion euros in Finland over the coming years. The funds will build new data centers and secure dedicated nuclear energy to maintain operations.
The investment will fund three new data centers in northern Finland across Kajaani, Muhos, and Vaala. Additionally, the project includes an expansion of Google's existing facility in Hamina, which was originally built inside a former paper mill in 2009.
Construction is scheduled to take place between 2027 and 2028. Google estimates the project will create approximately 37,000 jobs during the construction phase and contribute about 3.6 billion euros annually to Finland's GDP.
To power these facilities, Google signed a 22-year agreement with the Finnish electric company Fortum. The tech giant will buy up to 50 percent of the production from the Loviisa nuclear power plant, which currently generates around 10 percent of the country's electricity.
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