Google and Fortum signed a nuclear power purchase agreement covering Finland's Loviisa nuclear plant for data center operations.

Google and Fortum have signed a power purchase agreement (PPA) that will provide electricity from Finland's Loviisa nuclear plant to Google's data center infrastructure beginning in 2028. Between 2030 and 2049, Google will purchase 50 percent of Loviisa's operating capacity. The agreement is also expected to enable 10 MW of new capacity at the plant, which is already scheduled for a 38-MW uprate. According to both parties, the PPA provides the revenue certainty Loviisa requires to remain operational through 2050.

"By supporting the lifetime extension of the Loviisa plant, which is located close to our data center in Hamina where we first put down our roots in Finland, we're doing our part to keep a critical energy source on the grid, mitigating system impacts from meaningful capacity going off line in the south of the country," said Aris Karcanias, Google's director of energy for Europe, the Middle East, and Africa. "As we work with Fortum and other partners to bring new renewable capacity and flexible solutions to the Finnish grid alongside our growth, we hope to develop a blueprint for responsible integration of AI into European energy systems."

The agreement includes a memorandum of understanding in which both companies will explore bringing additional energy supply to Finland's grid, including potential new nuclear opportunities at Loviisa. Loviisa currently operates two pressurized water reactors with a combined capacity of 1,014 MWe, while Olkiluoto, operated by Teollisuuden Voima Oyj, has three reactors totaling 3,355 MWe.

Beyond the Fortum deal, Google announced additional energy projects in Finland, including two onshore wind projects and a battery system project. The company has also signed a PPA with NextEra Energy to support the restart of the Duane Arnold plant in Iowa.

Fortum president and CEO Markus Rauramo said in a statement: "Finland has a unique opportunity to turn its decarbonized, reliable electricity system and robust industrial infrastructure into a foundation for the next wave of sustainable industrial growth. Long-term partnerships like the one between Fortum and Google are essential to making that happen, especially in today's uncertain market environment characterized by low visibility and highly volatile electricity prices."

Separately, Fortum announced in late August that its subsidiary NuCore Energi had submitted a state aid application to the Swedish government outlining plans for a new nuclear power project in Oskarshamn Municipality, which would generate between 1,200 MWe and 3,400 MWe. NuCore Energi was established following a Fortum feasibility study into new nuclear opportunities in Finland and Sweden, and was specifically created to comply with Swedish government requirements limiting state aid support to companies focused solely on new reactor deployment. Fortum officials noted that neither Fortum nor NuCore have reached any investment decision on a Swedish nuclear project.