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Google and Constellation Energy Sign 20-Year Nuclear Deal Adding 890 MW to PJM Grid in $4.3 Billion Agreement

By Market Flux··1 min read
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Constellation Energy Corporation $CEG

$267.62+3.93%as of publication

5D Change
+2.34%
Volume
37
vs Average
18.5×
Market Cap
$96.10B

Google and Constellation Energy have signed a 20-year agreement to bring 890 megawatts of new nuclear capacity onto the PJM grid, the largest power grid in the United States, through upgrades at 11 reactors across Illinois, Pennsylvania and New Jersey. The deal, backed by $4.3 billion in investment, will supply electricity for Google's data-center operations, with the first reactor uprate expected in 2028.

The two companies also agreed to a separate 15-year supply deal covering an additional 2.7 gigawatts, bringing the total power covered across both agreements to roughly 3.6 gigawatts, a figure comparable to the output of a new nuclear plant. The structure reflects the scale of power demand being driven by artificial intelligence infrastructure as technology companies race to secure long-term electricity supply.

Constellation shares surged as much as 8.4 percent in premarket trading following the announcement, with the stock up approximately 6 to 7 percent in early market activity. The deal reinforces the growing trend of hyperscalers locking in nuclear power contracts directly with plant operators as grid capacity tightens around large data-center clusters.

© AI-generated summary is provided by Market Flux

Sources

  1. ReutersGoogle, Constellation near deal for nuclear power, Bloomberg News reports
  2. InvestingWhy is Constellation Energy stock climbing today?
  3. Wallstengine$GOOGL is nearing a $1B+ multi-year nuclear power deal with $CEG to supply electricity for its data-center operations, according to Bloomberg.
  4. FirstSquawkGOOGLE AND CONSTELLATION SIGN CONTRACT FOR 890 MW OF NUCLEAR POWER.
  5. Seeking AlphaConstellation, Google confirm nuclear energy deal tied to 890 MW of new PJM capacity
  6. BarronsConstellation Energy Stock Rises. What a Google Nuclear Deal Would Do for It.
  7. BarronsonlineConstellation Energy Stock Rises. What a Google Nuclear Deal Would Do for It.
  8. MarketsdayGoogle, Constellation Sign 20-Year Nuclear Deal, Adding 890 MW to PJM Grid - $GOOGL $CEG
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  1. CnbcStocks making the biggest moves premarket: Constellation Energy, Option Care Health, Lennar, P&G and more
  2. BriefingcomGapping up: $OPCH +20.5% $APOG +19.6% $CEG +7.9% $EMAT +5.5% $FRSH +4.7% Gapping down: $TRMD -2.4% $SYRE -2.1% $UMC -1.6% $PCVX -1.4%
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  4. OpenOutcrier$CEG (+8.4% pre) Constellation, $GOOG $GOOGL Google confirm nuclear energy deal tied to 890 MW of new PJM capacity
  5. MarketwatchGoogle makes a fresh bet on nuclear power as the AI energy crunch intensifies