Microsoft Espoo / Hepokorpi campus

FJI source-qualified: four-document gate met, including project-specific government evidence. Qualification evidence and decisions →

Published and scoped evidence reviewed October 16, 2026. Historical source events retain their own dates.

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Identity and delivery

Hepokorpi is the Espoo campus within Microsoft’s three-site Finnish region. The municipality documents a distinct land transaction; the other campuses are Kirkkonummi and Vihti.

Power and capital boundaries

The EUR30.9 million municipal land-sale value is a land transaction, not campus construction spending. Network heat percentages do not measure operating IT load.

Investor read-through

Our analysis: land transfer, building completion and usable cloud capacity create different economic checkpoints. Fortum’s heat recovery depends on a phased compute ramp.

Delivery commitments and dated checkpoints

Target: Microsoft targets first-phase construction around year-end 2026–2027, followed by commissioning preparation.

• Undated current source: The city identifies Microsoft as data-centre developer/operator and Fortum as heat-recovery operator. It expects phased operations around 2027. Project-specific municipal account
• 2023-12-13: Espoo reports the sale of 21.6 hectares to Microsoft 3465 Finland Oy for approximately EUR30.9 million, after the detailed plan entered into force. Original municipal land transaction
• Undated current source: The May 2026 Espoo update describes continuing construction and the start of a second building. Original company construction update
• 2026-04-28: Microsoft identifies three separate campuses and phased delivery; first-phase building work targets the turn of 2026–2027, followed by commissioning preparation. Second-phase permits are issuer-reported. Original company disclosure
• 2026-06-09: DCD separately identifies Espoo, Kirkkonummi and Vihti as developments, while attributing site-progress details to Microsoft. Its Vaasa land acquisition is another project. Independent specialist reporting; construction details attributed to Microsoft
• Undated current source: Fortum identifies planned heat recovery from Espoo and Kirkkonummi. The roughly 40% district-heat contribution is a combined future network estimate, not IT capacity or present delivery. Original heat-offtake partner disclosure

Unavailable: no matched, comparable accepted operating-IT target and actual.

Company connections

Microsoft develops the Espoo campus; Microsoft 3465 Finland Oy is the municipal land purchaser. Fortum has a separate heat-recovery role; no site earnings allocation established.

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What remains unverified

Energization, commissioning, accepted customer capacity, current operating IT MW, utilisation, project spending and campus earnings remain unverified.

Next observable evidence

Verify phase-one commissioning and service acceptance; distinguish heat delivery from heat-pump readiness.

Sources and claim boundaries

Documents are counted as documents, not independent confirmations. Same-issuer releases and their rewrites share an underlying claim. Six documents across Microsoft, municipality, Fortum and DCD; DCD construction details rely on Microsoft rather than an independent site inspection. The city’s current feature has no displayed publication date. Direct final permit/compliance files remain a follow-up.

1. City of Espoo · Document date not displayed; dated subsection retained

   The city identifies Microsoft as data-centre developer/operator and Fortum as heat-recovery operator. It expects phased operations around 2027.

   Project-specific municipal account · What Is the Hepokorpi Data Centre?; paragraphs on roles and phasing · Checked 2026-10-16

2. City of Espoo · 2023-12-13

   Espoo reports the sale of 21.6 hectares to Microsoft 3465 Finland Oy for approximately EUR30.9 million, after the detailed plan entered into force.

   Original municipal land transaction · Land sale paragraphs; plan effective November 8, 2023; price paragraph · Checked 2026-10-16

3. Microsoft · Document date not displayed; dated subsection retained

   The May 2026 Espoo update describes continuing construction and the start of a second building.

   Original company construction update · Construction update May 2026; December 17, 2025 update; Hepokuja 2 address · Checked 2026-10-16

4. Microsoft · 2026-04-28

   Microsoft identifies three separate campuses and phased delivery; first-phase building work targets the turn of 2026–2027, followed by commissioning preparation. Second-phase permits are issuer-reported.

   Original company disclosure · Paragraphs 1–5; construction completion and commissioning are separate · Checked 2026-10-16

5. DatacenterDynamics / Georgia Butler · 2026-06-09

   DCD separately identifies Espoo, Kirkkonummi and Vihti as developments, while attributing site-progress details to Microsoft. Its Vaasa land acquisition is another project.

   Independent specialist reporting; construction details attributed to Microsoft · Finland cloud-region background and links to all three local project updates · Checked 2026-10-16

6. Fortum · Document date not displayed; dated subsection retained

   Fortum identifies planned heat recovery from Espoo and Kirkkonummi. The roughly 40% district-heat contribution is a combined future network estimate, not IT capacity or present delivery.

   Original heat-offtake partner disclosure · Data centers provide electricity-based district heating; combined two-site scope · Checked 2026-10-16

Structured source audit

AI-assisted public-source research by Fjord Journal. No original interviews, site visits, independent metering or whole-project certification. Planned investment and capacity are excluded from delivered-IT and paid-spending aggregates. Unknown values remain unavailable.

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