Google signs 22-year power purchase agreement with Finnish utility Fortum covering nuclear, renewables, and storage capacity.
Google has signed a 22-year power purchase agreement (PPA) with Finnish utility Fortum for up to 50% of the generation capacity of the Loviisa nuclear power plant. Beginning in 2028 with a smaller contracted capacity, the agreement will run at full capacity from 2030 through 2049, providing Fortum with the long-term revenue visibility needed to justify major capital investments.
Loviisa currently supplies approximately 10% of Finland's electricity and employs around 580 people. Without the lifetime extension program, the plant would cease operations beyond 2030. Fortum is pursuing an approximately €1 billion investment to extend Loviisa's operating life to 2050, with about €700 million in capital expenditure still requiring investment decisions. The Google agreement provides the certainty necessary to move forward with these critical investments.
The partnership also supports planned capacity expansions at the site. Fortum has plans for a 38-megawatt capacity increase expected to be operational in 2028, with potential for an additional 10 MW increase under the new Google partnership. Extending the plant to 2050 while adding capacity strengthens Finland's electricity supply without waiting years for entirely new large-scale generation projects.
Beyond nuclear power, Google and Fortum have agreed to explore new nuclear generation, renewable energy and flexibility solutions. Fortum maintains an 8 GW renewable pipeline in the Nordic countries currently in the permitting phase, with targets to have 1.2 GW of ready-to-build renewable projects and 2.5 GW of new flexibility services and generation assets operational by the end of 2028. Google plans to invest €13 billion in Finland during 2027 and 2028 in data centers, supporting infrastructure and partnerships across Hamina, Muhos, Vaala and Kajaani.
The partnership already demonstrates this integration. In Kajaani, Google has contracted a 94 MW battery storage system near its new data center to optimize the local grid, allowing battery storage to balance variable renewable generation and provide additional flexibility to the electricity system.
Google's clean-energy strategy extends well beyond Finland. In 2025 alone, Google secured more than 12 GW of net-new clean energy deals—its largest annual procurement, exceeding the combined amount contracted in the previous two years. Since 2010, the company has signed over 240 clean-energy agreements representing nearly 35 GW of capacity. Despite a 37% increase in electricity demand in 2025, Google reduced operational emissions by 2% and matched 100% of its electricity consumption with renewable energy purchases for the ninth consecutive year. Energy, hardware and computing-efficiency initiatives also avoided more than 58 million metric tons of CO2 equivalent in 2025.
Google's energy diversification includes other technology platforms. In Taiwan, the company signed geothermal agreements expected to add 10 MW of always-on geothermal power and made an equity investment in Baseload Capital. Google is also supporting long-duration energy storage through a partnership with Energy Dome, whose CO2 Battery technology stores renewable electricity and discharges it over eight to 24 hours.
The Fortum deal exemplifies how large corporations can support the broader energy transition beyond purchasing clean electricity. Google's long-term demand gives Fortum the certainty to maintain Loviisa operations through 2050 and develop new renewable, storage and nuclear capacity. Combined with Google's €13 billion investment in Finland, the partnership strengthens the country's low-carbon energy system and could serve as a model for using corporate demand and investment to build clean energy infrastructure across Finland and the Nordic region.