Finland’s Nuclear Power Attracts Google – Investing Billions in Massive AI Expansion

Finland’s longstanding commitment to nuclear power is now giving the country a new competitive edge, as the AI industry demands ever-larger amounts of electricity. Google is now investing around 15 billion dollars to expand its AI infrastructure in Finland—in an investment where nuclear energy plays a central role.

On Wednesday, Google announced that the company will invest 13 billion euros in Finland during 2027 and 2028. This is the company’s largest single investment in Europe to date and includes, among other things, three new data centers in the country.

A key element of the initiative is access to stable and fossil-free electricity. Google has signed a 22-year agreement with energy company Fortum for up to half the production from the Loviisa nuclear power plant. The agreement will help finance investments that will allow the reactors to operate until 2050.

Today, Loviisa accounts for about ten percent of Finland’s electricity production. Without investments in a life extension, the plant would not, according to Fortum, be able to continue operating after 2030. Google thereby becomes a direct financial partner in maintaining significant nuclear capacity on the Finnish power grid.

At the same time, Finland has already significantly increased its nuclear power production. Olkiluoto 3, Europe’s new large EPR reactor, has been in commercial operation since 2023 and has, over the past year, delivered electricity with very high availability. In September, the first long maintenance period began after a record-long production cycle of 498 days.

Google and Fortum are also not content with the existing nuclear capacity. The companies have signed an agreement to explore opportunities to develop new nuclear power in Finland. The collaboration also includes new wind power, battery storage, and other solutions to strengthen the electricity system.

Creates Tens of Thousands of Jobs

It is no coincidence that Finland has become attractive to the big tech companies. Aside from nuclear energy, the country has a cold climate, which reduces the need for energy-intensive cooling of data centers, and a relatively stable power grid. Google has already operated a large data center in Hamina for 15 years and uses, among other things, seawater for cooling.

However, the expansion has also sparked an energy policy debate. Finnish opposition parties have warned that the fast-growing data centers could increase the load on the power grid and, in the long term, contribute to higher electricity prices. Center Party’s Antti Kaikkonen, for example, has called for a national system to manage the establishment of new data centers.

Meanwhile, Finnish Prime Minister Petteri Orpo has defended the initiative, stating that there is sufficient power to handle Google’s expansion. The government views the investments as an important economic boost, and Google estimates that the construction phase will support over 37,000 jobs and contribute around 3.6 billion euros annually to Finland’s GDP.

Google’s multibillion investment thus demonstrates how nuclear power is gaining a new strategic significance. As AI requires enormous amounts of reliable power, countries that can offer both large amounts of fossil-free energy and a functioning power system are becoming increasingly attractive to tech giants.