Nordics favored for data centers due to fast grid access and low energy costs
The Nordics are becoming an attractive location for data centers, leveraging fast grid connections, reliable infrastructure, and lower energy costs compared to continental Europe.
The Nordic region is emerging as a prime location for data center development, driven by its robust electrical grids, efficient permitting, and competitive energy prices. Fast grid connection speeds are now a top priority for developers, and the Nordics excel in providing rapid access to high-capacity, reliable power infrastructure.
Transmission grid reliability in Finland and Sweden is among the best in Europe, with Fingrid reporting a 99.9995% electricity transmission reliability rate in 2024. Both countries are implementing significant investments to further strengthen grid capacity and international interconnections, facilitating smoother and faster project deployments.
The expected price gap between Nordic and Continental European electricity markets is widening, partly due to the significant growth in low-carbon energy sources like nuclear and wind power. Finland generated 95% of its electricity from low-carbon sources in 2024, while Sweden achieved 98%, offering a more predictable and cost-effective energy supply for data centers.
Fortum is supporting this trend by offering ready-to-build sites to shorten time-to-market and assisting with power procurement, hedging, and waste heat utilization. This enables data centers to leverage the Nordics' advantages for efficient and sustainable operations.