Google, Constellation near deal for nuclear power, Bloomberg News reports
The agreement will fund reactor uprates at 11 plants and support around-the-clock power for Google’s data centers, the companies said.
- 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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Watch Google, Constellation Energy Strike Deal for Nuclear Power
Google parent Alphabet agreed to buy nuclear power from Constellation Energy Corp. in a 20-year power-purchase agreement that will drive more than $4.3 billion in investments to upgrade systems at 11 Constellation reactors. Bloomberg's Will Wade joins to discuss.
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 […]
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