Google and Constellation Energy sign 3,590‑MW power purchase agreements
Google and Constellation Energy have entered into power purchase agreements for a total of 3,590 megawatts. The deal includes a 20‑year contract for 890 megawatts from upgraded nuclear plants and a 15‑year contract for 2,700 megawatts from Constellation’s existing generation in the PJM grid. Constellation will invest $4.3 billion in upgrades and electricity delivery is slated to begin in 2028. The announcement lifted Constellation’s share price by 12.2% to $300.40.
Why it matters
Constellation’s shares rose 12.2% to $300.40 after the announcement, giving the company immediate market benefit. The long‑term contracts provide Google with secured power for its data centers and give Constellation revenue certainty for its operating plants.
Key facts
- 1The agreements total 3,590 megawatts of power. rtoinsider.com
- 2Google will purchase 890 megawatts from Constellation’s nuclear reactors under a 20‑year contract. arkansasonline.com
- 3Google will purchase an additional 2,700 megawatts from Constellation’s PJM‑grid generation under a 15‑year contract. arkansasonline.com
- 4Constellation will invest more than $4.3 billion in upgrades to its fleet. arkansasonline.com
- 5Electricity from the first upgraded nuclear plant is expected to be delivered in 2028. arkansasonline.com
- 6Constellation’s shares rose 12.2% to $300.40 at the end of trading Tuesday. arkansasonline.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.