Amazon Locks in 20-Year Nuclear Power Deal with Constellation Energy

The agreement, which was announced on Wednesday, will support the expansion and continued investment in the Calvert Cliffs Clean Energy Center, Maryland's only nuclear plant and largest clean-energy source.

The deal is expected to provide Constellation with revenue visibility to relicense the plant for another 20 years and advance potential new clean-energy projects at the site. The agreement also covers more than $3 billion of infrastructure investment, including upgrades across the plant's 1,790-megawatt capacity and approximately 190 megawatts of new emissions-free generation expected between 2030 and 2032.

Constellation Energy Corporation shares were up by almost 4% during Thursday's premarket session following the announcement. The company has also signed a separate long-term power purchase agreement with Ferrovial for more than 115 megawatts of solar capacity at the Milano Solar project in Texas, which will generate approximately 246,000 megawatt-hours of renewable energy annually.

The stock's recent price action has lagged, but it still screens as growth-leaning. Analysts expect Constellation Energy to report earnings on November 6, 2026, with an estimated EPS of $3.63 and revenue of $9.54 billion.