Google strikes first nuclear power deal in Europe with Fortum

Google just locked in nuclear power on European soil for the first time. The company signed a 22-year power purchase agreement with Finnish energy giant Fortum to offtake up to 50% of the Loviisa nuclear power plant’s capacity from 2030 through 2049, with reduced capacity deliveries starting as early as 2028. The deal does two things at once: it gives Google a massive, stable clean energy source for its expanding data center footprint in Finland, and it gives Fortum the revenue certainty it needs to justify keeping a 50-year-old nuclear plant running for another two decades. Without this kind of commitment, Loviisa’s operations were staring down a potential shutdown around 2030. The numbers behind the partnership Google is not just buying electrons. The company plans to invest at least €13 billion, roughly $15.1 billion, in AI and data center infrastructure across Finland during 2027 and 2028. That figure represents Google’s largest single investment anywhere in Europe. The spending will span multiple locations. Google’s existing data center in Hamina, which sits near the Loviisa plant, will see expansion. New facilities are planned in the regions of Muhos, Vaala, and Kajaani. For ...