Google Invests €13 Billion in Finnish AI Infrastructure

Google is making its largest investment in Europe, a €13 billion ($15.1 billion) artificial intelligence infrastructure build out in Finland. The company plans to construct at least three new data centers and expand its existing facility in Hamina over the next two years.

The Finnish government will benefit from the deal, which includes a 22-year power-purchase agreement with Google covering half of Fortum Oyj's Loviisa nuclear plant capacity from 2030 to 2049. The project also involves new wind-power agreements and a 94-megawatt battery system at the Kajaani site.

Finland's cold climate is ideal for data centers, as it requires little cooling and allows heat generated by servers to be captured and reused to warm homes. Additionally, 96% of the country's electricity comes from carbon-free production, mostly nuclear and renewable power.

The investment will create a major boost for Finland's economy, which has struggled with weak demand, trade disruptions with Russia, and public finance constraints. The project is expected to employ 16,000 construction workers, and Google estimates that the new data centers will be operational in the next two years.