Google commits €13bn to Finnish AI data centres, buys half a nuclear plant's output

Google is pouring up to €13bn ($15bn) into Finland in what it calls its largest single investment in Europe, aimed squarely at AI infrastructure. The money funds three new data centres in Kajaani, Muhos and Vaala, plus an expansion of its existing Hamina facility — a site it built inside a converted paper mill back in 2009. The capacity will feed products like the Gemini chatbot alongside Search, Maps and YouTube, as Alphabet pushes its global 2026 capex toward $205bn to keep pace with AI demand.

The standout term is energy: Google has signed a 22-year deal with utility Fortum to take up to half the output of the Loviisa nuclear plant, which alone supplies roughly 10% of Finland’s electricity. The long-term offtake gives Fortum financial certainty to extend the plant’s life and raise its capacity — a direct example of how the AI buildout is now reshaping power procurement, not just server racks. Google frames the package around grid upgrades, clean-energy projects and ‘energy affordability’ commitments.

Finland’s appeal is concrete: a cool climate that cuts cooling costs, abundant low-carbon power and an uncongested grid. The deal lands amid a broader rush — TikTok announced a separate $1bn Finnish data centre this week — and carries heavy economic weight, with Google projecting 37,000+ construction jobs and a €3.6bn annual GDP boost. Construction runs through 2027 and 2028.