Constellation Energy Secures Long-Term Nuclear Power Agreements with Amazon and Google
Constellation Energy (CEG) has entered into two significant 20-year power purchase agreements (PPAs) with technology giants Amazon and Alphabet's Google. The deal with Amazon includes a 690 MW agreement that will fund a 190-MW uprate at the Calvert Cliffs Clean Energy Center in Maryland, expected to come online between 2030 and 2032. A subsequent agreement with Google aims to bring 890 MW of new nuclear capacity online within the PJM Interconnection region. These long-term 'take-or-pay' contracts provide Constellation Energy with significant revenue visibility and de-risk its business model as an independent power producer. By securing these hyperscalers as customers, the company can fund essential infrastructure upgrades and plant extensions across Illinois, Pennsylvania, and New Jersey. This shift positions the company to transition from a volatile merchant power producer into a stable, long-term energy supplier for the growing data center industry.
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Topics: Data Centers Hyperscalers Nuclear Energy Renewable Energy Contracts