Google Bets €13bn on Finland

Google will invest at least €13bn ($15.3bn) in artificial intelligence infrastructure in Finland over the next two years. At the same time, the US company has signed its first nuclear energy contract outside the United States.

The agreement with energy company Fortum includes a 22-year commitment to purchase up to half of the output from the Loviisa nuclear power plant. The partners will also explore opportunities to develop new nuclear and renewable energy sources. The contract will provide the financial certainty needed to extend the plant’s lifespan and modernize it through 2050. The facility is located near Google’s data center in Hamina.

Investments planned for 2027 and 2028 will go toward data centers, the power grid, clean energy and battery projects. They will support Gemini, Search, Maps and YouTube. According to Google, this is its largest investment in artificial intelligence in Europe to date.

Construction is expected to contribute approximately $3.6bn to Finland’s gross domestic product. Once the projects are operational, the investments are expected to support approximately 7,000 jobs a year.

Finland attracts technology companies with its abundance of low-emission electricity, while its cold climate reduces the energy needed to cool data centers. Prime Minister Petteri Orpo described Google’s decision as confirmation of the country’s strengths.

(Reuters, bak)