Google Close to $1 Billion Nuclear Energy Deal with Constellation

Alphabet Inc., the parent company of Google, is close to a major agreement to purchase nuclear energy from Constellation. According to a report by Bloomberg, the deal could be worth over $1 billion and span multiple years, potentially being announced as early as this week. The exact details of the nuclear capacity and its location have not been disclosed.

The move comes as tech companies increasingly seek reliable power sources to support their expanding data centers, driven by the growing demand for artificial intelligence. Nuclear energy is attractive due to its ability to provide consistent, emissions-free electricity. Recent agreements have focused on existing nuclear facilities because constructing new reactors is a lengthy process.

This potential deal follows a similar agreement between Amazon.com and Constellation, where Amazon committed to buying 690 megawatts of nuclear power, including capacity from an upgrade to Constellation's Calvert Cliffs facility in Maryland. Google has already secured several nuclear energy deals, including a recent agreement with Southern Co. to fund upgrades at two nuclear plants and a previous deal with NextEra Energy to support the restart of the Duane Arnold reactor in Iowa.

The resurgence of nuclear power reflects a broader shift in the industry, which had faced challenges earlier this decade due to safety concerns and high costs. Now, both the tech sector and governments are turning to nuclear energy to meet rising electricity demands while reducing emissions.