Amazon signs 20‑year power purchase deal with Constellation to expand Calvert Cliffs nuclear plant
Amazon and Constellation Energy have entered a 20‑year power purchase agreement covering 690 MW of output from Maryland’s Calvert Cliffs nuclear facility. The deal includes an uprate of 190 MW that is expected to be online by 2032 and will fund more than $3 billion of infrastructure upgrades at the plant. Amazon will buy the power through the PJM wholesale market and a related retail supply agreement to support its regional data‑center operations.
Why it matters
Constellation expects the revenue certainty from Amazon’s offtake to enable the $3 billion capital program and support a 20‑year relicensing of the plant, according to its statement. Amazon gains a fixed, carbon‑free power supply for its AI‑driven cloud services, which the company highlighted as a way to manage energy costs.
Key facts
- 1The agreement runs for 20 years and covers 690 MW of power from Calvert Cliffs. financial-news.co.uk
- 2It includes a 190 MW capacity uprate expected to be online between 2030 and 2032. financial-news.co.uk
- 3The deal is projected to unlock more than $3 billion in infrastructure investment at the plant. stocktitan.net
- 4Amazon will purchase power through the PJM wholesale market and a retail supply agreement for its operations across the 13‑state PJM region. financial-news.co.uk
- 5Constellation CEO Joe Dominguez said the agreement demonstrates how private investment can strengthen critical energy infrastructure. stocktitan.net
- 6Amazon’s AWS VP Kerry Person said the agreement sustains the plant’s operation and supports Amazon’s climate goals. fox5dc.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.