Google Signs 22 Year Nuclear Power Deal With Finland's Fortum; Fortum Shares Jump 10 Percent

According to Investing.com, Google (a unit of Alphabet) and Finnish energy company Fortum signed a 22 year agreement on Tuesday, September 8, 2026 (17 Shahrivar 1405) for Google to buy up to 50 percent of the capacity of the Loviisa nuclear power plant, after which Fortum shares jumped 10 percent. The deal supports a program to keep the plant running through 2050; Fortum said that without it, the plant, which supplies about 10 percent of Finland's electricity, could not have continued operating past 2030. Fortum said the agreement, once half the plant's output is under contract, is expected to gradually lift the group's comparable return on net assets by about 1.4 percentage points.

The agreement is part of a Google investment plan of at least 13 billion euros in Finnish AI infrastructure over 2027 and 2028, covering data centers in Hamina, Kajaani, Vaala and Muhos. The two companies also signed a memorandum of understanding to explore new nuclear, renewable and flexible power capacity in Finland.