Constellation Energy (CEG) and Meta signed a 20-year nuclear power purchase agreement on June 3, 2023, set to begin in 2027. This agreement aims to support the relicensing and continued operations of Constellation’s Clinton nuclear facility, expanding its clean energy output by 30 megawatts. This is Constellation’s second 20-year agreement with an AI company, enhancing its role in providing energy for Meta’s data center expansion.
Despite this significant deal, CEG’s stock experienced a decline after reaching near all-time highs, trading approximately 13% below those levels. Constellation currently operates over 20 reactors across the Midwest, Mid-Atlantic, and Northeast and has plans for further growth, including a $26.6 billion acquisition of Calpine expected in 2025. The U.S. government aims to triple nuclear capacity by 2050 to support economic and AI developments.
