Constellation Closed Up 12.25% at $300.40 on Google’s…
By Tobi Opeyemi Amure
AI summary of the source article
Constellation Energy closed up 12.25% at $300.40 after announcing agreements with Google to support nuclear power generation. The deal combines a 20-year power purchase agreement for 890 megawatts of new capacity across 11 units in Illinois, Pennsylvania, and New Jersey, with a 15-year agreement for 2,700 megawatts delivered to the PJM market. Constellation stated the project entails over $4.3 billion in investment, with the first uprate anticipated by 2028 and completion before the end of 2032. Shares of peer power producers Talen Energy and Vistra gained 12.43% and 10.77% respectively, while Alphabet shares closed up 0.35%.
Why it matters
The deal illustrates large technology companies contracting long-term nuclear power generation to meet expanding energy demand for data centers and cloud infrastructure.
Key facts
- Constellation Energy closed up 12.25% at $300.40 on volume of 13,482,660 shares following the announcement.
- The agreement includes a 20-year PPA for 890 megawatts of new nuclear capacity and a 15-year supply deal for 2,700 megawatts in the PJM market.
- Constellation stated the package represents more than $4.3 billion of new investment, with the first uprate expected by 2028 and completion before 2032.