Google announced its largest single investment in Europe, a record €13 bn (£11 bn; $15 bn) package aimed at building AI infrastructure in Finland. The investment will fund three new data centres, expand an existing facility in Hamina, and support energy projects to meet rising demand for AI services. As part of the agreement, Google signed a 22‑year contract with Finnish utility Fortum to purchase up to 50 % of the electricity generated by the Loviisa nuclear power plant, which currently supplies about 10 % of Finland’s total electricity output. The company said the deal provides long‑term financial certainty for the plant and will support Fortum’s programme to extend the station’s life and increase its generating capacity. Finnish Prime Minister Petteri Orpo welcomed the move, calling it a clear testament to the country’s strengths and noting that deepening collaboration with Google will deliver lasting benefits for both parties. Google President and Chief Investment Officer Ruth Porat stated that the investment underscores the company’s commitment to grow its presence responsibly, pairing technical infrastructure expansion with new energy capacity, grid enhancements, and energy affordability initiatives. The infrastructure will support products such as the AI chatbot Gemini, as well as services including Search, Maps and YouTube, and will also fund clean energy projects and dedicated nature and community funds for local biodiversity, education, research and workforce development. According to Google, the investment is expected to support more than 37,000 jobs during construction and boost Finland’s GDP by €3.6 bn each year. Construction is slated for 2027 and 2028. Earlier this year, Alphabet raised its global spending plans to as much as $205 bn to expand computing capacity for AI services. The announcement follows a $1 bn investment by TikTok in a new data centre in Kouvola, highlighting Finland’s appeal as a location for data centres due to its cool climate, plentiful low‑carbon electricity and relatively uncongested power grid.
Key facts
- Google’s investment totals €13 bn (£11 bn; $15 bn).
- Google will buy up to 50 % of the Loviisa nuclear plant’s output under a 22‑year contract with Fortum.
- The Loviisa plant currently generates about 10 % of Finland’s electricity.
- Investment will fund three new data centres and expand an existing site in Hamina.
- Google expects the project to create over 37,000 construction jobs and add €3.6 bn annually to Finland’s GDP.
- Construction is planned for 2027‑2028.
- Alphabet’s global AI‑related spending target is up to $205 bn.
- TikTok announced a $1 bn data centre investment in Finland earlier this week.