Google set to strike billion-dollar nuclear power deal with Constellation

Google's parent company, Alphabet (GOOG, GOOGL), is close to finalizing a multi-year deal to purchase nuclear energy from Constellation Energy (CEG). The agreement, potentially worth over $1 billion, could be announced as early as this week, according to a report from Bloomberg. While the exact scale and location of the nuclear capacity remain unspecified, the deal signifies a significant commitment to nuclear power by a major tech firm.

Amazon recently secured a similar agreement with Constellation (CEG), agreeing to buy 690 MW of power. This includes capacity from upgrades at the Calvert Cliffs nuclear facility in Maryland. The deal highlights the growing trend among tech giants to invest in nuclear energy as a reliable and sustainable power source.

Microsoft also entered a deal in 2024 to purchase electricity from the shuttered Three Mile Island nuclear plant in Pennsylvania. Constellation (CEG) plans to restart operations at the site next year, further expanding the company's nuclear energy portfolio.

Google has previously agreed to buy electricity from NextEra Energy to support the restart of the Duane Arnold reactor in Iowa. Additionally, the company has secured new contracts with Southern Co. to fund upgrades at two other atomic plants. These agreements underscore the tech industry's increasing reliance on nuclear power to meet its energy needs.