Kenneth Glad
Technology runs on electricity, and the latest digital tools require massive amounts of it. The race to build better systems means companies are desperately hunting for reliable ways to keep the lights on. Now, one tech giant has just found a massive, long-term fix in northern Europe.
Alphabet is pouring serious money into its European operations. The parent company of Google plans to spend 13 billion euros on artificial intelligence infrastructure in Finland over the next few years.
That equals about 15.1 billion dollars. According to HotNews, the tech giant will officially roll out these funds between 2027 and 2028.
This massive budget will fund new data centers, battery projects, and local grid upgrades. In fact, Google executives noted that this stands as their largest artificial intelligence investment in Europe to date.
Turning to nuclear power
Data centers need enormous power to run smoothly around the clock. To solve this problem, Google has signed a 22-year contract with the Finnish energy operator Fortum.
The agreement lets Google buy up to 50 percent of the energy produced at a local nuclear power plant. The facility is located in Loviisa, right next to Google’s existing Hamina data center.
Ruth Porat, the company’s chief investment officer, spoke about the historic milestone during a recent visit to Helsinki.
“This is Google’s first nuclear deal from outside the U.S. and we believe it’s an important event for everything we do here,” she said.
A boost for Finland
Finland has slowly become a major hotspot for global technology companies. Industry rivals like Microsoft and ByteDance are also looking closely at the Nordic country, drawn primarily by its stable nuclear energy supply.
Google wants to cut energy costs while meeting its own strict climate goals. This partnership helps them do exactly that. It also opens the door for Google and Fortum to develop new renewable energy sources together down the line.
The local economy will see a massive benefit from the spending. Google estimates the construction phase alone will add roughly 3.6 billion dollars to the national gross domestic product.
Once everything is completely up and running, the project should support around 7,000 local jobs. For Fortum, the guaranteed long-term cash flow brings ultimate financial security. The utility company can now afford to modernize its Loviisa plant and keep it running safely until 2050.
Sources: HotNews, Fortum
