Google and Fortum Ink Nuclear PPA for Loviisa Plant
Google and Fortum have signed a power purchase agreement (PPA) for Finland's Loviisa nuclear plant, which will provide electricity to Google's data centers starting in 2028. Under the terms of the PPA, Google will take on half of the plant's operating capacity between 2030 and 2049.
The deal includes a memorandum of understanding that explores bringing additional energy supply to Finland's grid, including potential new nuclear opportunities at Loviisa. The agreement aims to provide revenue certainty for the plant, allowing it to stay online until 2050.
According to Google's director of energy for Europe, the Middle East, and Africa, Aris Karcanias, 'By supporting the lifetime extension of the Loviisa plant... we're doing our part to keep a critical energy source on the grid.' The deal also includes plans for new renewable capacity and flexible solutions for the Finnish grid.
Fortum's president and CEO, Markus Rauramo, said that 'Long-term partnerships like the one between Fortum and Google are essential... especially in today’s uncertain market environment characterized by low visibility and highly volatile electricity prices.'