Constellation Energy's Crane Reactor to Generate in 2027, Backed by 20-Year Microsoft PPA
CEG sits 86% above its 52-week low of $161.35.
Summary
Constellation Energy announced its restarted Crane Clean Energy Center reactor (Three Mile Island) is slated to begin generating power in 2027. This operational update is significantly de-risked by a 20-year power-purchase agreement with Microsoft, signed in 2024, which secures long-term revenue for the facility. This news provides a concrete timeline for generation, building on the recent disclosure of the reactor's restart. Although Bank of America Securities concurrently lowered its price target for CEG to $401 from $407, this minor analyst adjustment is largely offset by the material operational milestone and the substantial, long-term PPA. Traders will focus on the company's execution towards the 2027 generation target.
At the time of this announcement, CEG was trading at $300.14 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $109.1B. The 52-week trading range was $161.35 to $412.70. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.