French AI infrastructure company Sesterce said on 8 October 2026 that it plans a campus for AI computing on the site of the former Kaipola paper mill in Jämsä, Finland, with an investment of over €10 billion. The first phase, with works planned to start in 2026, will have a capacity of 200 MW, rising to 600 MW in a second phase, according to its release.
Sesterce says it already has an anchor customer for the project, which it does not name, and that over the longer term it aims to build more than one gigawatt of AI capacity in Finland on existing industrial sites.
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The key insight: As we read it, Sesterce is buying time as much as land. It chose a site that already has a high-voltage grid connection, water systems and buildings, and the grid operator says that connection can carry the first phase.
Sesterce says the campus will make use of the site’s existing infrastructure, including the power grid, water systems, buildings and logistics connections. “For more than six decades, the Kaipola mill produced paper for the world. Now, a new generation of industry is being planned for the site,” said Youssef El Manssouri, CEO of Sesterce.
Jorma Myllymäki, CEO of grid operator Elenia, says in the release that the Kaipola site is connected to Elenia’s high-voltage network, which currently provides a solid foundation for the first phase.
Planned AI capacity, MW, from Sesterce’s release of 8 October 2026: 200 MW in the first phase at Jämsä, 600 MW after the second phase, and a longer-term aim of more than 1,000 MW (one gigawatt) across Finland.
The Commitments
For every 1 MW the campus consumes, Sesterce says it will enable 1 MW of new renewable generation capacity in the Finnish grid within ten years of the campus becoming operational, counting only newly built generation.
Cooling will use a closed-loop liquid system supplemented with harvested rainwater and recycled water, with no drinking water used for cooling, according to the release. Sesterce also plans a €10 million community fund on commissioning and says each commitment will be audited by an independent third party and reported publicly every year.
Jobs Sesterce expects at Jämsä, from its release of 8 October 2026: approximately 2,000 during construction and around 300 once the campus is fully operational.
Jobs and the Local View
The project is expected to employ approximately 2,000 people during construction and around 300 once fully operational, and Sesterce says it will work primarily with Finnish contractors.
Jämsä’s mayor, Jori Reijula, calls it an interesting opportunity “provided it progresses from plans to implementation and meets the applicable requirements.”
The Structural Read
The project starts from demand, Sesterce says. It cites an anchor customer and committed workload capacity, without naming the customer.
The power pledge is a build commitment. Sesterce says it will enable 1 MW of newly built renewable generation in the Finnish grid for every 1 MW the campus uses, within ten years of operation.
Local approval is still conditional. The mayor of Jämsä supports the plan provided it moves from plans to implementation and meets the requirements.
Youssef El Manssouri, CEO of Sesterce
“Our goal is to preserve the area’s industrial identity while making use of existing infrastructure, including the power grid, water systems, buildings and logistics connections.”
Three Implications
OLD INDUSTRY, NEW LOAD Sesterce plans 200 MW first, then 600 MW, at a former paper mill already connected to the grid.
A NAMED PLEDGE ON POWER It commits to 1 MW of new renewable capacity for every 1 MW consumed.
AN UNNAMED CUSTOMER The release cites an anchor customer but does not say who it is.
The framework’s starting point: “The structural bottleneck isn’t computing, it’s electrons.”
As we read it, Sesterce’s site choice follows that logic: it picked a former paper mill whose existing high-voltage connection can, according to the grid operator, carry the first phase, rather than starting from an empty field.
What Is Not Established
We read Sesterce’s release in full. It does not name the anchor customer, give a date for the second phase, or say how the over €10 billion investment will be financed; it describes a planned project. We did not contact Sesterce.
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Sesterce plans an AI campus of over €10 billion at the former Kaipola paper mill in Finland, starting at 200 MW with works planned for 2026 and rising to 600 MW, backed by an unnamed anchor customer and a pledge of 1 MW of new renewable capacity for every 1 MW it consumes.
A note on sourcing. We read Sesterce’s release of 8 October 2026 in full; the figures and commitments are the company’s plans. We did not contact Sesterce. Nothing here is a forecast, and nothing here is financial or investment advice.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
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