Google Signs 20-Year Deal for Nuclear Power from Finland’s Loviisa Plant

HELSINKI — Google has signed a long-term deal to buy electricity from a nuclear power plant in Finland. The agreement will help keep the Loviisa nuclear plant running for many more years.

The deal is part of Google’s plan to invest €13 billion ($15.1 billion) in Finland over the next two years. The money will go toward building data centers and other infrastructure for artificial intelligence (AI) . Google needs a lot of electricity to power these data centers.

Under the agreement with Finnish energy company Fortum, Google will buy up to 50% of the electricity produced by the Loviisa plant. The contract will last for 22 years, from 2030 to 2049 . This is Google’s first nuclear energy deal outside the United States .

The Loviisa plant currently provides about 10% of Finland’s electricity . Without this deal, the plant might have had to close by 2030. The long-term contract gives Fortum the financial certainty it needs to invest in upgrades and keep the plant operating until 2050 .

Google’s Chief Investment Officer, Ruth Porat, said the deal is “a really important cornerstone” for the company’s work in Finland . Finland’s Prime Minister, Petteri Orpo, called Google’s decision “a clear testament to our strengths” .

The companies will also work together to explore new nuclear and renewable energy projects in Finland . Google said its investment will create thousands of jobs and add billions of dollars to Finland’s economy .

Tech companies like Google, Microsoft, and others are turning to nuclear power because it provides steady, low-carbon electricity for their growing data centers .