A major artificial intelligence infrastructure company announced Tuesday it will build a massive data center in Finland valued at more than $10 billion, marking another significant step in the growing demand for AI computing power across Europe.
Nebius Group, headquartered in Amsterdam, revealed plans for the 310-megawatt facility that will rank among the continent’s largest AI data centers. The project represents the company’s 10th location as it rapidly expands its European operations.
Construction is already underway in Lappeenranta, a city located near Finland’s eastern border with Russia, with Finnish developer Polarnode handling the build. The massive facility is scheduled to become operational in stages beginning in 2027.
The announcement comes after Nebius secured major contracts totaling more than $40 billion with technology giants Microsoft and Meta. However, company officials emphasized the new Finnish location will serve multiple purposes for AI model training and application deployment, rather than being dedicated to a single customer.
Polarnode CEO Mikko Toivanen described the project as one of Finland’s most significant infrastructure developments to date, noting it will strengthen European data sovereignty.
Finland has emerged as a preferred destination for data center development due to several key advantages, including affordable energy costs, abundant renewable electricity sources, and a naturally cold climate that significantly reduces cooling expenses.
Officials found Lappeenranta particularly attractive because of rapid land availability and existing electrical grid capacity. “We think that the broader ecosystem environment is also very favourable here,” Chief Communications Officer Tom Blackwell explained.
This Finnish facility will become Nebius’ largest operation outside the United States, exceeding the 240-megawatt project the company announced near Lille, France, just last month. The company currently operates its biggest European facility in Finland as well – a 75-megawatt center in Mantsala.
CEO Arkady Volozh stated the Lappeenranta location will provide a “significant contribution” toward the company’s ambitious capacity targets, which include securing over 3 gigawatts of contracted capacity before the end of this year.
The scale of the operation is enormous – the facility will consume enough electricity to power approximately 500,000 Finnish homes and will eventually represent roughly 10 percent of Nebius’ total contracted capacity worldwide.
