The Amsterdam-based company said the new facility, with a planned capacity of 310 megawatts, will be developed in the southeastern Finnish city of Lappeenranta. The project, valued at more than $10 billion, is expected to come online in phases starting in 2027.
The site is being constructed by Finnish developer Polarnode and is set to become one of the country’s largest infrastructure investments. According to the developer’s CEO, the facility will play a key role in strengthening Europe’s data sovereignty while supporting surging demand for AI computing.
Nebius said the data centre will be used to train artificial intelligence models and run AI-driven applications, rather than being dedicated to a single customer. The company has recently secured more than $40 billion in supply agreements with major U.S. tech firms, including Microsoft and Meta.
Finland has increasingly become a preferred destination for data centre investments due to its competitive energy landscape. Low electricity costs, a strong renewable energy mix, and a cold climate—ideal for reducing cooling expenses—have made locations like Lappeenranta particularly attractive.
Nebius executives also cited the area’s ready access to land and grid capacity as key factors in the decision. The new Finnish site will surpass the company’s previously announced 240 MW project near Lille, France, and significantly expand its European footprint.
Chief Executive Arkady Volozh said the development will contribute meaningfully to Nebius’ goal of securing more than 3 gigawatts of contracted capacity by the end of the year. Once fully operational, the Lappeenranta facility is expected to account for roughly 10% of the company’s total contracted capacity.
At full scale, the data centre will consume enough electricity to power up to 500,000 Finnish households, highlighting both the immense energy demands of AI infrastructure and the growing importance of sustainable energy sources in supporting the sector’s expansion.