Amazon signs 20‑year nuclear power purchase agreement with Constellation Energy
Amazon and Constellation Energy have entered a 20‑year power purchase agreement for 690 MW of nuclear electricity from the Calvert Cliffs plant in Maryland. The contract includes a planned 190‑MW capacity uprate between 2030 and 2032 and supports more than $3 billion in infrastructure upgrades. The deal also adds a retail supply component for Amazon’s operations across the 13‑state PJM market and gives Constellation revenue certainty as it seeks a further 20‑year license extension for the plant.
Why it matters
Goldman analyst Carly Davenport says the agreement provides revenue certainty for Constellation and helps Amazon lock in carbon‑free power, which could stabilize the retailer’s energy costs. The $3 billion investment may boost the regional grid’s capacity and support Constellation’s license extension plans.
Key facts
- 1The parties signed a 20‑year power purchase agreement. foxnews.com
- 2The PPA covers 690 MW of nuclear capacity. zerohedge.com
- 3It includes a 190 MW uprate scheduled for 2030‑2032. zerohedge.com
- 4The agreement enables more than $3 billion in infrastructure investment at Calvert Cliffs. zerohedge.com
- 5Amazon and Constellation also entered a retail electricity supply agreement for Amazon’s operations across the 13‑state PJM market. foxbusiness.com
- 6The plant’s two reactors are licensed through 2034 and 2036, and Constellation aims to extend the licenses by another 20 years. foxbusiness.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.