Fortum Secures Power Purchase Deal With Google for Finnish Nuclear Plant

04:15 AM EDT, 09/09/2026 (MT Newswires) -- Fortum (FORTUM.HE) entered into a strategic partnership with Google, including a 22-year power purchase agreement for its Loviisa nuclear power plant in Finland. Alphabet's (ABEA.F) Google contracted for up to 50% of the plant's capacity, providing long-term revenue certainty for Fortum's planned lifetime extension of the plant through 2050, according to a Wednesday release. The PPA will start in 2028, initially at a smaller capacity, and reach 50% of the plant's capacity from 2030 through 2049. The Finnish energy company and the US company also signed a memorandum of understanding to develop new nuclear, renewable energy and flexibility capacity systems.