Fortum and Google sign 22-year nuclear power PPA

Recent work|September 9, 2026

Roschier advised Fortum on a long-term power purchase agreement (PPA) with Google covering up to 50% of the capacity of the Loviisa nuclear power plant, as well as a related battery energy storage system optimization agreement.

Fortum and Google have entered into a strategic partnership in Finland, centered around a 22-year power purchase agreement (PPA) under which Google will purchase electricity from Fortum’s Loviisa nuclear power plant. The agreement will gradually commence in 2028 and cover up to 50% of the plant’s capacity during 2030–2049.

The agreement supports Fortum’s ongoing investment program to extend the operating lifetime of the Loviisa plant until 2050 and provides long-term visibility for future investments in low-carbon electricity production.

As part of the broader collaboration, Fortum and Google also signed a battery energy storage system optimization agreement relating to a new 94 MW battery system to be deployed in connection with Google’s data center in Kajaani. In addition, the companies entered into a memorandum of understanding to explore further cooperation in areas including new nuclear power, renewable energy, flexibility solutions, and energy portfolio management services.

Roschier’s advisory team comprised Toni Siimes, Sanna-Mari Seppälä, Josetta Peltoniemi, Helena Viita, Jonne Järvi, Miia-Mari Kasi, Antti Ihamuotila, Johannes Vaattovaara, Ami Paanajärvi and Anna Gosset.