Google Teams Up with Fortum on Long-Term Nuclear Power Agreement
Google and Fortum have signed a long-term power purchase agreement (PPA) for Finland's Loviisa nuclear plant. Under the deal, Loviisa will supply power to Google's data center infrastructure in Finland starting from 2028.
The PPA also includes an option for Google to increase its share of Loviisa's operating capacity to 50% between 2030 and 2049. Additionally, the agreement is expected to enable 10 MW of new capacity at the plant.
Fortum president and CEO Markus Rauramo said that long-term partnerships like the one between Fortum and Google are essential in making Finland's decarbonized, reliable electricity system a foundation for sustainable industrial growth.
The agreement also includes a memorandum of understanding (MOU) to explore bringing additional energy supply to Finland's grid, including potential new nuclear opportunities at Loviisa.
Fortum has also submitted a state aid application with the Swedish government to develop a new nuclear power project in Oskarshamn Municipality. The proposed project would generate between 1,200 MWe and 3,400 MWe.