Google will spend at least €13 billion on data centres and digital infrastructure in Finland over the next two years, its largest single investment in Europe, in a bet on the country's cheap power and climate.
Helsinki has landed the biggest cheque Google has written anywhere in Europe
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The company announced on Wednesday that a €13 billion investment will fund data centres and supporting infrastructure across four municipalities, along with clean energy projects and funds dedicated to local biodiversity, education, research and workforce development.
The facilities in Hamina, Kajaani, Muhos and Vaala will power a range of Google services, among them its Gemini chatbot. The company described the decision as "a testament to Finland's leadership in responsibly building AI infrastructure."
Construction is expected across 2027 and 2028, and the firm estimates the investment will add €3.6 billion a year to Finland's GDP while supporting more than 37,000 jobs, roughly 16,000 of them in construction.
Once the building stops, Google projects the sites will sustain around 7,000 jobs annually, spanning technical and facility roles, equipment suppliers, as well as the shops, restaurants and services used by those workers and their families.
Finnish Prime Minister Petteri Orpo welcomed the announcement in Google's statement.
"Google's decision is a clear testament to our strengths. The value of the data economy extends far beyond direct investment into spurring innovation, research and development," Orpo said, adding that closer collaboration would "deliver lasting benefits for both parties."
Why Finland
The appeal to invest in Finland is rooted in its cold climate.
Data centres generate enormous heat and consume vast quantities of electricity, and Finland offers a cold climate that reduces cooling costs alongside relatively cheap and stable power from nuclear plants, wind and hydro.
That combination has produced a boom, with dozens of data centres already under construction across the country.
Google's own presence dates back to 2009, when it bought a disused paper mill in the coastal city of Hamina and converted it, expanding steadily since.
For Orpo's right-wing government, attracting this kind of investment has also been a priority, especially since Finnish elections will take place in April of next year.
Finland is contending with record unemployment and weak growth, and the data economy has become one of the few sectors offering the prospect of substantial investment and job creation.
