Amazon and Constellation Energy Strike 20-Year Nuclear Power Deal

Constellation Energy and Amazon have inked a 20-year power purchase agreement, set to begin on September 30, 2026. The deal, covering 690 megawatts, includes an additional 190 megawatts of nuclear capacity at the Calvert Cliffs plant in Maryland. This expansion is part of a broader project expected to inject over USD 3 billion into local infrastructure, with the new capacity slated to go online between 2030 and 2032.

The agreement also encompasses a retail supply arrangement for Amazon’s operations across the 13-state PJM market. Despite the long-term benefits, the current financial guidance for Constellation Energy focuses on its 2026 performance. The company reported adjusted operating earnings of USD 2.55 per share for the second quarter of 2026, up USD 0.64 from the same period in 2025. Consequently, Constellation raised its full-year adjusted operating earnings guidance from USD 11.00-12.00 to USD 11.50-12.50 per share.

On October 6, 2026, Constellation Energy’s stock was trading at EUR 245.63 on Lang & Schwarz, marking a 2.52 percent increase from the prior close of EUR 239.60. The stock’s performance on the Nasdaq was also notable, closing at USD 267.62 on October 5, 2026, within a 52-week range of USD 228.63 to USD 412.70. Analysts remain optimistic, with an average 12-month price target of USD 351.76, according to MarketBeat.