Google to Invest €13 Billion in Finland AI and Energy Infrastructure

Google has announced an investment of at least €13 billion ($15.1 billion) in AI and digital infrastructure in Finland. The investment, scheduled for 2027 and 2028, includes the expansion of an existing data center in Hamina and the construction of new facilities in Kajaani, Muhos, and Vaala. The project is described as Google's largest single investment in the European Union to date.

A central component of the deal is a 22 year power purchase agreement with energy company Fortum. Under this agreement, Google will have access to as much as 50 percent of the generating capacity of the Loviisa nuclear power plant. Fortum stated that the plant, which provides about 10 percent of Finland's electricity, would not have been able to continue operations past 2030 without this investment. The deal ensures the plant can operate through 2050. Additionally, Google has contracted 629 MW of new onshore wind capacity through agreements with Valorem and Suomen Hyötytuuli, and a 94 MW battery system near Kajaani expected to connect in late 2027.

Google claims the investment will create 37,000 jobs, including 7,000 permanent positions, and contribute €3.6 billion to Finland's GDP. Finnish Prime Minister Petteri Orpo called the investment historical and stated it makes Finland a front runner in digitalization and AI. He further noted that Google is committed to keeping electricity prices under control.

Both reports, which come from center leaning outlets, focus on the economic and technical details of the expansion. However, one report highlights potential risks, mentioning that the data center boom could lead to skyrocketing energy consumption and security risks, while also describing Google as a tax avoiding company. The other report focuses more on the specific energy procurement details and the technical specifications of the wind and battery projects.