Google signs 507 MW nuclear power deal in Finland

Google has signed a 507-megawatt (MW) power purchase agreement with Fortum at the Loviisa nuclear plant. The 22-year deal is the first nuclear contract of its kind in Finland and the largest single power agreement ever completed in the country. It surpasses Amazon's 367 MW wind contract with OX2 for the Rajamäenkylä project.

The long-term agreement will prevent the Loviisa plant, which supplies 10% of Finland's electricity, from retiring in 2030. The 22-year duration is more than double the term of typical onshore wind and solar agreements recorded among top deals in 2025 and 2026.

Data centers have surpassed industrial manufacturers as the largest power buyers in Finland. The country is projected to become Europe's fifth-largest data center market by 2035, with capacity expanding from 0.8 gigawatts (GW) in 2026 to 5 GW in 2035. Data centers are also projected to consume roughly 15% of national electricity by 2030.

Rystad Energy expects future corporate contracts in Finland to pair wind and solar with battery storage systems to deliver steady baseload energy. Meanwhile, Finnish authorities have proposed moving away from first-come, first-served grid queues to prioritize firm supply built outside congested southern areas.