Google Signs 22-Year Nuclear Deal for Finnish Data Centers

M&A · PartnershipProduct / Tech Impact 4
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Summary · why it matters

Alphabet's Google announced at least 13 billion euros of digital infrastructure spending in Finland across 2027 and 2028, its largest single investment in Europe, covering data centers in Hamina, Kajaani, Muhos and Vaala. The project is expected to contribute an annual average of 3.6 billion euros to Finnish GDP during construction and support more than 37,000 jobs, with 7,000 jobs once operational. Google also signed a 22-year power purchase agreement with Fortum to fund the life extension of the Loviisa nuclear plant, which employs about 580 people and supplies 10% of Finland's electricity, with a separate memorandum covering possible new reactors at the site. Additionally, Google added 629 megawatts of new-to-grid onshore wind through Valorem and Suomen Hyotytuuli, and a 94-megawatt battery near Kajaani running from late 2027. Alphabet shares were down 3.03% intraday.

Impact on stocks 2

Artificial Intelligence▲ · 1 stocks
Alphabet Inc Class C
GOOG
▲ PositiveCapitalrelevance

Google announced at least €13B of digital infrastructure spending in Finland, its largest single European investment, plus a 22-year nuclear PPA.

Energy Transition & Power Demand▲ · 1 stocks
Fortum Oyj
0HAH
▲ PositiveDemandrelevance

Fortum signed a 22-year power purchase agreement with Google to fund life extension of the Loviisa nuclear plant, with a memorandum on possible new reactors.

Theme Impact 6

Off-coverage companies 2

Suomen Hyötytuuli OyPrivate▲ Positive
Demandrelevance

Suomen Hyötytuuli is among the partners adding 629 MW of new-to-grid onshore wind for Google.

ValoremPrivate▲ Positive
Demandrelevance

Valorem is among the partners adding 629 MW of new-to-grid onshore wind for Google.

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