Sept. 9 (UPI) — U.S. Internet behemoth Google announced plans Wednesday to invest at least $15.1 billion into artificial intelligence infrastructure in Finland, its largest single investment in Europe to date.
The funds are to be invested over the next two years, including new data centers and other supporting infrastructure, as well as partnerships in the Finnish cities and municipalities of Hamina, Kajaani, Muhos and Vaala, it said. Data centers will be constructed in Kajaani, Muhos and Vaala, while Google’s existing data center in Hamina will be expanded.
“This investment underscores Google’s commitment to grow our presence responsibly, pairing the expansion of our technical infrastructure with new energy capacity, grid enhancements and energy affordability initiatives,” Ruth Porat, president and chief investment officer of Alphabet and Google, said in a statement.
According to Google, the initiative is expected to contribute an annual average of $4.2 billion to Finland’s gross domestic product during the two-year construction phase and support more than 37,000 jobs across the country. Once operational, the facilities are projected to support 7,000 jobs a year, with average wages 24% higher than Finland’s median wage.
Finland’s Prime Minister Petteri Orpo said the investment is a testament to his nation’s strengths, while Minister of Climate and the Environment Sari Multala said it is an example of how to invest in AI infrastructure that also benefits local communities and the broader energy system.
“This long-term approach and commitment are exactly what we need to generate value for both investors and Finnish society,” Multala said.
“A long-term agreement with an energy company helps ensure that new electricity generation capacity is developed to meet growing demand.”
As part of the investment, Google said it will support high-impact municipal energy projects in Hamina, Kajaani, Muhos and Vaala, where low-income households will be provided with solar and heat-pump installations.
It also announced investments in Finland’s energy infrastructure, making agreements with local energy companies to strengthen the nation’s grid. Among the deals is a 22-year power purchase agreement with Finnish energy company Fortum to support the life extension of the Loviisa nuclear power plant, which provides 10% of the nation’s electricity.
It also signed agreements supporting new onshore wind projects, bringing Google’s total contracted new-to-the-grid wind capacity in Finland to 629 megawatts.
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