Constellation Adds 2,700 MW Google Supply Deal and Tech Alliance to Nuclear PPA
CEG sits 32% above its 52-week low of $228.63.
Summary
Constellation Energy and Google expanded their power agreement beyond the previously reported 890 MW nuclear uprate PPA. The new announcement adds a 15-year energy supply agreement for 2,700 MW from Constellation's existing PJM nuclear fleet, bringing total contracted capacity to 3,600 MW. A five-year technology alliance will put Google Cloud and Gemini Enterprise into Constellation's energy operations. The 890 MW uprate portion involves over $4.3 billion of investment across 11 nuclear units, with first uprate expected by 2028. This follows Constellation's recent Amazon PPA and strong Q2 guidance raise, reinforcing its position as a preferred nuclear power provider for hyperscalers. The additional 2,700 MW supply agreement is the material new element for traders, as it locks in long-term revenue from existing assets.
At the time of this announcement, CEG was trading at $301.59 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $106.9B. The 52-week trading range was $228.63 to $412.70. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.