AI Data Center Growth Drives European Nuclear Power Demand
European technology companies are increasing investments in nuclear power to meet the rising electricity demands of AI data centers through 2030.
The rapid expansion of AI data centers across Europe is driving a surge in demand for nuclear power to ensure a reliable, low-carbon electricity supply. Analysts from J.P. Morgan project that electricity consumption for these facilities will increase from 70 terawatt-hours to approximately 115 terawatt-hours by 2030. This growth is supported by a massive pipeline of announced data centers that reached 66.1 gigawatts by the end of 2025, dwarfing the 10.8 gigawatts currently in operation.
To secure dependable energy, Google has entered into a 22-year power purchase agreement with Fortum for nuclear generation in Finland. Such high-premium agreements are becoming more common as tech firms seek to bypass grid instability. While small modular reactors are targeted for deployment in the early 2030s to alleviate pressure on existing infrastructure, the European Commission estimates that 241 billion euros in investment is required by 2050 for large-scale reactors and lifetime extensions.
Growth in this sector is expected to be most concentrated in France and the Nordic countries. These regions offer competitive pricing and existing power surpluses, making them ideal hubs for the energy-intensive requirements of artificial intelligence infrastructure.
