Fortum and Google sign long-term nuclear power agreement in Finland
Google and the Finnish energy company Fortum have entered into a strategic partnership in Finland that includes a long-term power purchase agreement (PPA) for electricity from the Loviisa nuclear power plant. The agreement will support investments to extend the plant’s operating lifetime until 2050.
Under the 22-year agreement, Google will purchase electricity corresponding to up to 50% of the capacity of Fortum’s Loviisa nuclear power plant. The PPA will begin in 2028 with a smaller volume and will reach 50% of the plant’s capacity between 2030 and 2049.
Google and Fortum have signed a 22-year agreement for nuclear electricity from Finland’s Loviisa plant
According to Fortum, the agreement will provide the long-term revenue certainty required to continue the investments associated with extending the operating lifetime of Loviisa until 2050. Fortum is currently carrying out an investment programme of approximately €1 billion at the plant.
The agreement is also expected to enable an additional 10 MW increase in Loviisa’s output, on top of a previously planned 38 MW uprate expected in 2028.
The agreement will support investments to extend Loviisa’s operating lifetime until 2050
Located on Finland’s southeastern coast, the Loviisa nuclear power plant has two pressurised water reactors with a capacity of 507 MWe each. The units were commissioned in 1977 and 1980 and together generate around 8 TWh of electricity annually, equivalent to approximately 10% of Finland’s electricity production. Finland has five reactors in operation that produced 39.6% of the electricty in 2025.
Cooperation could include new nuclear capacity
In addition to the PPA, Fortum and Google have signed a memorandum of understanding (MoU) to explore further cooperation in areas including new nuclear power, renewable generation, flexible capacity solutions and energy portfolio management services.
The two companies will also work to identify potential business models that could improve the competitiveness of new nuclear reactors at Loviisa. Fortum has previously highlighted long-term customer demand, strategic investors and appropriate risk-sharing mechanisms as key conditions for investment in new nuclear capacity.
The partnership forms part of Google’s plans to invest €13 billion in Finland in 2027 and 2028, including data centres and supporting infrastructure in Hamina, Muhos, Vaala and Kajaani.
The partnership could expand to new nuclear capacity, renewable energy and flexible capacity solutions
The agreement reflects the growing role of nuclear energy in supplying reliable, low-carbon electricity to energy-intensive digital infrastructure, including data centres and artificial intelligence services.
Fortum President and CEO Markus Rauramo said the partnership provides “a strong foundation for the continued development and reliable operation of our Loviisa power plant for decades to come”.
Source: Fortum
