Constellation Energy Secures $4.3 Billion Nuclear Expansion Deals with Google and Amazon

Constellation Energy has secured two major power purchase agreements with tech giants Google and Amazon, marking a significant boost for nuclear energy expansion in the PJM Interconnection. The deal with Google, announced on Tuesday, involves a 20-year agreement supporting the addition of 890 MW of new nuclear generation through uprates of 11 existing units across Illinois, Pennsylvania, and New Jersey. The first uprate is expected to come online in 2028, backed by a $4.3 billion investment from Constellation.

The agreement also includes a 15-year supply agreement for an additional 2,700 MW across the PJM market. This follows a similar deal with Amazon last week, which underpins a $3 billion, 190-MW expansion of the Calvert Cliffs nuclear plant in Maryland, set to be operational between 2030 and 2032.

Constellation Energy Chairman, President, and CEO Joe Dominguez highlighted the importance of preserving and expanding nuclear capacity to meet growing energy demands. The deal with Google aligns with the White House’s ratepayer protection pledge and PJM’s Bring Your Own Power proposal, addressing the grid operator’s shortfall of about 6.8 GW of new capacity.

The agreement will sustain approximately 4,400 existing jobs and create around 7,200 temporary construction jobs. Additionally, it incorporates Google Cloud and AI technologies into Constellation’s operations, utilizing AI for site selection, power flow modeling, permitting, and infrastructure security.