Google close to $1 billion nuclear energy deal with Constellation

Google's parent company, Alphabet Inc., is close to finalizing a major deal to purchase nuclear energy from Constellation. According to a report by Bloomberg, the agreement could be worth over $1 billion and may be announced soon. The multi-year contract would support Google's growing data-center operations, which require vast amounts of reliable electricity.

The surge in demand for nuclear power comes as the tech industry expands its artificial-intelligence capabilities. Nuclear energy provides a steady, emissions-free power source, making it an attractive option for companies looking to meet their energy needs without relying on fossil fuels. Existing nuclear facilities are the focus of these deals because new reactors take years to develop and deploy.

This potential agreement follows a recent deal between Amazon and Constellation, where Amazon agreed to buy 690 megawatts of nuclear power, including capacity from upgrades to Constellation’s Calvert Cliffs facility in Maryland. Google has already secured several nuclear energy agreements, including a deal with NextEra Energy to support the restart of the Duane Arnold reactor in Iowa. Additionally, Google funded upgrades at two Southern Co. nuclear plants last month.

The renewed interest in nuclear power reflects a broader industry revival, driven by the need for stable electricity to support the tech sector’s growing energy demands. Governments and companies are increasingly turning to nuclear energy as a way to reduce emissions while meeting rising electricity consumption.