Google picks Finland for its largest single investment in Europe
Summary
Google announced a €13 billion investment to build and expand data centers in Finland, making it the company's largest single investment in Europe. As part of this deal, Google will buy up to half the electricity produced by Finland’s Loviisa nuclear power plant under a 22-year contract.Key Facts
- Google will invest €13 billion to fund three new data centers, expand one existing facility, and support local energy projects in Finland.
- The company signed a 22-year agreement with Finnish utility Fortum to buy up to 50% of output from the Loviisa nuclear power plant.
- Google’s investment is expected to create over 37,000 jobs during construction and add €3.6 billion annually to Finland’s GDP.
- New data centers will be built in Kajaani, Muhos, and Vaala, with an expansion of the existing site in Hamina.
- Finland is attractive for data centers due to its cool climate, low-carbon electricity, and reliable power grid, which help reduce energy costs.
- Google’s infrastructure will support AI services like its Gemini chatbot, as well as Search, Maps, and YouTube.
- The investment includes funding for clean energy projects and community initiatives focused on biodiversity, education, and workforce development.
- This investment supports Finland’s energy needs and helps extend the life and capacity of the Loviisa nuclear plant.
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