Utilities Up After Constellation, Google Deal — Utilities Roundup

The US DOE's UPRISE initiative aims to add 5 GW of nuclear capacity by 2029. Constellation may receive a loan to finance uprates at several plants, adding 1.1 GW. The loan could lower costs and scale nuclear capacity. Constellation has already invested $7B in nuclear output expansions, supported by agreements with Google, Amazon, and Meta.

Constellation Energy (CEG) announced a conditional $5 billion loan from the U.S. Department of Energy for nuclear power plant upgrades. The loan, part of the UPRISE program, aims to increase output at existing facilities. CEG's stock has fallen 15% over six months, with a current price of $256 and a target of $339. The company has also secured private deals with tech giants for nuclear capacity.

The U.S. government has offered Constellation Energy ($CEG) a conditional loan of up to $5 billion to upgrade nuclear reactors in three states, adding 1.1 gigawatts of capacity. The projects include facilities in Illinois, Maryland, and Pennsylvania. Separately, Constellation has a 20-year power agreement with Google ($GOOGL) for 890 megawatts across 11 nuclear units.

Constellation Energy received a $5 billion conditional loan commitment from the DOE for nuclear expansion, subject to due diligence and final agreements. The DOE also committed $4.2 billion to Vistra for nuclear upgrades. These commitments total up to $9.2 billion in federal financing for U.S. nuclear generation.

The U.S. Energy Department approved a $5B loan for Constellation Energy to expand nuclear power generation in Illinois, Maryland, and Pennsylvania. The funds will support 1.1GW of additional capacity to meet contracts with data centers like Google, Amazon, and Meta. The loan aims to lower financing costs and increase output without new facilities. Constellation operates 12 nuclear plants and is the largest U.S. operator.

The DOE offered Constellation Energy a conditional $5B loan for nuclear power uprates at eight plants, adding 1.1 GW of capacity. The financing supports DOE's UPRISE initiative and aims to enhance grid reliability in PJM and MISO regions. Constellation's projects, backed by agreements with Google, Amazon, and Meta, could reduce borrowing costs and accelerate development.