Google Signs Long-Term Deal with Fortum for Loviisa Nuclear Power Plant Capacity

Google has signed a power purchase agreement with Finland's Fortum to cover up to 50% of the Loviisa nuclear power plant's capacity until 2050. The deal provides financial certainty for power uprates and lifetime extensions, supporting Fortum's EUR1 billion investment program in the plant.

The Loviisa plant, which began commercial operation in 1977, currently provides over 10% of Finland's electricity. Fortum plans to extend its operating life until 2050 through investments totaling around EUR700 million, but still needs a predictable revenue stream to complete these projects.

Fortum CEO Markus Rauramo stated that long-term partnerships like the one with Google are essential for building sustainable growth and industrialization in Finland. The agreement also enables a new 10 MWe capacity increase at the plant.