ConstellationEnergy News & Analysis

Google Signs 3.6-GW Power Deal With Constellation Energy

Google has signed a power deal with Constellation Energy for 3,590 megawatts of power, marking it one of the largest deals in the U.S. power grid. The agreement involves adding capacity at Constellation's nuclear reactors and includes a long-term contract for 890 megawatts from upgraded facilities by 2028. The $4.3 billion investment from Constellation will enhance capacity at several reactors in the Midwest and Mid-Atlantic regions. Additionally, Google secured an agreement for an extra 2,700 megawatts of power supply from Constellation's existing plants in PJM Interconnection, the largest U.S. electric grid. The arrangement spans 20 years and addresses PJM's proposal requiring data center customers to provide their power or risk disconnection during peak demand. This agreement positions Google to meet its power needs while encouraging investment in clean energy capacity. Constellation, the largest U.S. nuclear power operator, aims to provide long-term revenue certainty through this deal. For investors, this deal indicates Google's commitment to sustainable energy investments and Constellation's secured revenues through such agreements. It reflects a growing trend among tech companies as they look for stable power sources amid increasing energy demands.