Google, Constellation near deal for nuclear power, Bloomberg News reports
- On Tuesday, Constellation Energy and Google announced a $4.3 billion investment to upgrade 11 nuclear plants in Illinois, Pennsylvania, and New Jersey, securing power for the tech giant over a 20-year period.
- Technology firms are increasingly embracing nuclear energy as a reliable power source to support rapid expansion of artificial intelligence data centers, driving this clean energy collaboration.
- Adding 890 megawatts of nuclear capacity, the initiative strengthens the PJM Interconnection grid serving 67 million people while creating approximately 7,200 new construction jobs and sustaining existing employment.
- Constellation Energy stock surged 12% on Tuesday as the agreement boosted investor sentiment for nuclear-heavy generators Vistra and Talen Energy, which also saw shares rise on sector optimism.
- The companies also established an "AI for energy" blueprint, which Constellation President and CEO Joe Dominguez described as a model for industry collaboration with technology partners like Microsoft and Meta.
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Google has contracted nearly 3.6 gigawatts of energy from the American company Constellation Energy. The agreement will enable investments worth over $4.3 billion. About a quarter of the capacity will be provided by expanding the capacity of existing nuclear power plants.
Constellation Energy Soars 12% on Google Nuclear Deal for 890 MW; Vistra Jumps 8%, Talen Energy Climbs 7%
A hyperscaler just committed two decades of demand. That demand is for firm, around-the-clock nuclear power, and the merchant nuclear group is repricing around that signal, led by Constellation Energy (NASDAQ:CEG). Constellation Energy stock is at $300.30, rising 12% in morning trading. That jump follows a twenty-year power purchase agreement with Alphabet‘s (NASDAQ:GOOGL) Google that […]
Google and Constellation Energy have closed a partnership to add 890 megawatts (MW) of nuclear capacity to the U.S. electricity grid, aiming to meet the growing demand for energy. Exclusive material for subscribers. To have full access, access the material link and register.
Google Signs 3.6GW Power Deal With Constellation, Boosting Nuclear Supply in PJM Grid
NEW YORK: Google has contracted for 3,590 megawatts of power from Constellation Energy in the US' largest power grid, with new nuclear energy accounting for about a quarter of that supply, the companies said on Tuesday.The deal will enable more than $4.3 billion of new investment by Constellation and involves adding capacity at several of the power company's nuclear reactors in the Midwest and Mid-Atlantic regions, the companies said.Major tech…
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