Google picks Finland for its largest single investment in Europe

Google plans to invest a minimum of €13 billion ($15 billion) in digital infrastructure and related projects in Finland over the next two years, as part of its commitment to the country and Europe. The company already operates a large campus at Hamina, home to seven data centers, located south of the country.

The expansion will see new data centers constructed near Kajaani, Muhos, and Vaala in northern Finland, though Google did not disclose the specific number or capacity of these new facilities. In addition, Google aims to deepen its relationship with Finland's grid operator, Fingrid, and local energy providers.

A key element of the investment is a 22-year power purchase agreement (PPA) with Fortum, a Finnish energy company, to support the extension and upgrade of the Loviisa nuclear plant. The plant, which currently supplies about 10 percent of Finland's electricity, would otherwise cease operation by 2030 without this investment. Fortum expects Google to access up to 50 percent of the plant's generating capacity, starting at a lower level in 2028 and increasing to that level by 2030 through 2049. Google has confirmed this arrangement to The Register.

In terms of renewable energy, Google has secured additional onshore wind power PPAs with green energy firms Valorem and Suomen Hyötytuuli, bringing new-to-the-grid wind capacity in Finland to 629 MW. Additionally, Google is investing in a 94 MW battery system near its Kajaani site, set to connect to the grid by late 2027. This system aims to balance supply and reduce price volatility during periods of low wind.

CEO Ruth Porat emphasized that this investment reflects Google's responsible growth strategy, combining expansion of technical infrastructure with new energy capacity and grid enhancements. The decision to expand in Finland is attributed to the country's extensive carbon-free electricity supply and existing grid infrastructure.