Constellation Energy signs 20‑year, $4.3 B nuclear power deal with Google
Constellation Energy Corp announced a 20‑year power purchase agreement with Google to add 890 MW of new nuclear capacity to the PJM Interconnection grid, backed by $4.3 billion of upgrades at 11 reactors. The deal also includes a 15‑year supply contract for an additional 2,700 MW of existing generation. The announcement sent Constellation shares sharply higher, with price gains of 13‑14% across the market.
Why it matters
Wedbush analysts note that the long‑term off‑take provides revenue visibility for Constellation, supporting its full‑year earnings guidance lift (the company raised its adjusted earnings outlook to $11.50‑$12.50 per share). The stock rallied 13.76% to $304.44 on the news, reflecting immediate market impact.
Key facts
- 1The agreement adds 890 MW of new nuclear capacity to the PJM grid. gurufocus.com
- 2The deal is backed by a $4.3 billion investment over 20 years. gurufocus.com
- 3A separate 15‑year supply agreement covers 2,700 MW of existing generation. gurufocus.com
- 4Constellation shares rose 13.76% to $304.44 after the announcement. marketscreener.com
- 5The contract secures a 20‑year power purchase agreement with Google. marketscreener.com
- 6First new capacity from the uprates is expected by 2028. finance.yahoo.com
Summary written by AlphAI from 20 of 31 sources. Not investment advice. Figures are as stated by the linked sources.