Google Signs PPA with Fortum for Loviisa Nuclear Power Plant Capacity

Google has signed a power purchase agreement (PPA) with Fortum to buy up to 50% of the Loviisa nuclear power plant's capacity in Finland. The deal covers the period from 2030-2049 and provides financial certainty for power uprates and lifetime extensions until 2050.

The agreement is part of Google's plan to invest EUR13 billion (USD15 billion) in data centers and supporting infrastructure in Finland over the next two years, with a focus on renewable energy sources. Fortum has an investment program worth about EUR1 billion to extend the operation of Loviisa until 2050.

Without significant investments in lifetime extension, the plant would not be able to continue producing fossil-free electricity after 2030, said Fortum CEO Markus Rauramo. The agreement will also enable a new 10 MWe capacity increase at the plant.