Constellation Energy and Google sign 20‑year PPA for $4.3 billion nuclear uprades adding 890 MW
Constellation Energy and Google have entered a 20‑year power purchase agreement to fund $4.3 billion of equipment upgrades at 11 nuclear reactors in the PJM Interconnection. The upgrades are expected to increase capacity by 890 MW by the end of 2032, with the first uprate slated for 2028. The deal covers plants in Illinois, Pennsylvania and New Jersey and follows a similar agreement Constellation signed with Amazon. Constellation said its nuclear fleet produced 88.8 TWh in the first half of 2026 with a 92.7% capacity factor.
Why it matters
The long‑term contract secures a new revenue stream for Constellation and helps Google meet its clean‑energy goals, according to the companies’ statements. Analysts note that the uprates provide a cost‑effective way to add reliable, carbon‑free capacity in a constrained market, which could support higher electricity prices in PJM.
Key facts
- 1The agreement is a 20‑year power purchase agreement worth $4.3 billion. powermag.com
- 2It will add 890 MW of generating capacity from 11 nuclear units by the end of 2032. powermag.com
- 3The first uprate is expected to be online by 2028. finance.yahoo.com
- 4Constellation’s nuclear fleet produced 88.8 TWh in the first six months of 2026. powermag.com
- 5The fleet recorded a 92.7% capacity factor in that period. powermag.com
- 6The budget translates to just over $4,800 per kilowatt. finance.yahoo.com
Open questions
- The exact distribution of the 890 MW among the individual reactors was not disclosed.
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.