Google has announced a plan to invest €13 billion ($15.1 billion) in AI infrastructure and nuclear energy in Finland over the next two decades. The investment is part of Google's strategy to enhance its AI capabilities and includes plans for data centers and improvements to the electrical grid. This announcement was made on Wednesday, September 9, 2026.
The investment marks Google's largest single investment in the European Union to date and follows a global investment increase by its parent company, Alphabet, to around $200 billion. Google has been expanding its presence in Finland since 2009 when it repurposed a former paper mill in Hamina into a data center. The location is advantageous due to its cold climate, which reduces cooling energy needs, and Finland's relatively small population, which may mitigate resistance to such projects compared to other countries.
In addition to Google, other tech companies like Microsoft and ByteDance have also established data centers in Finland, which has prioritized attracting such investments amid economic challenges, including high unemployment and slow growth. Prime Minister Petteri Orpo stated that the investment is expected to contribute €3.6 billion to Finland's GDP and create approximately 37,000 jobs, with 7,000 being permanent positions.
Google's investment will be allocated for data centers, electrical grid enhancements, and clean energy projects related to its services. Orpo emphasized the potential for further investments and downplayed concerns about energy price increases associated with the project. He described the investment as historic for Finland, positioning the country as a leader in digitalization and AI.
The deal includes an agreement for Google to purchase 50% of the energy output from one of Finland's nuclear power plants for the next 22 years. This partnership with Fortum, the plant operator, aims to explore new nuclear and renewable energy projects. Fortum's shares rose 15.5% following the announcement.
However, Finland's Security and Intelligence Service (SUPO) has raised concerns regarding the security implications of foreign-owned data centers, particularly in relation to potential links to authoritarian regimes. SUPO warns that economic benefits must be weighed against security risks, especially in light of technology export restrictions to countries like China. Overall, the data center expansion is projected to increase energy consumption in Finland by 40% in the coming years.