Sesterce Proposes €10 Billion-Plus AI Campus at Former Finnish Paper Mill

French AI infrastructure company Sesterce proposed a new use for Finland’s former Kaipola paper mill on October 8, 2026: an AI campus costing more than €10 billion. Construction of the 200-megawatt first phase is planned to begin in 2026, pairing a large computing project with promises of local jobs and new renewable generation.

A second industrial life for Kaipola

The paper mill in Jämsä, central Finland, closed in 2021. Sesterce’s proposal would bring AI computing infrastructure to that existing industrial site. Chief executive Youssef El Manssouri says the company intends to reuse its power grid, water systems, buildings and logistics connections while preserving the area’s industrial identity.

Sesterce estimates approximately 2,000 people would be employed during construction and around 300 once the campus is fully operational. It also commits to working primarily with Finnish contractors and subcontractors. In a statement included in the company’s announcement, Jämsä Mayor Jori Reijula welcomed the prospect of investment and jobs but made his support conditional.

The Sesterce project is an interesting opportunity to strengthen the vitality of the region, provided it progresses from plans to implementation and meets the applicable requirements.

Jori Reijula, Mayor of Jämsä, in Sesterce’s announcement

A phased build with a customer already claimed

The proposed first phase would provide 200 MW of capacity, with a second phase expected to raise the site’s total to 600 MW. Sesterce says it already has an anchor customer and committed computing workloads, though it has not identified the customer.

Elenia chief executive Jorma Myllymäki says Kaipola is connected to the company’s high-voltage electricity network, which he describes as a foundation for implementing the first phase. Beyond Jämsä, Sesterce’s longer-term ambition is more than one gigawatt of AI capacity across Finland, using existing industrial sites and expanding in line with market demand.

Promises tied to the campus opening

Sesterce sets out four commitments for the proposed campus. They cover electricity generation, cooling, local funding and public access, with different delivery terms:

• Renewable generation: For every 1 MW consumed by the campus, Sesterce pledges to enable 1 MW of new renewable-generation capacity in Finland. It allows up to ten years after operations begin to deliver that capacity; only newly built generation qualifies.
• Cooling water: A closed-loop liquid system would use harvested rainwater and recycled water as supplements. The company says it will not use drinking water for cooling.
• Community funding: Sesterce pledges a €10 million fund when the campus is commissioned. The city and local residents would select the projects it finances.
• Public facilities: The site would include restaurants and education and learning spaces open to the community. AI infrastructure facilities would remain separate and secure.

The company says each commitment will be measured, independently audited and reported publicly every year. Its operating design also calls for flexible, controllable power consumption. Reusing waste heat remains an option under consideration, rather than a settled part of the campus design.