Constellation Energy prostřednictvím své venture divize poprvé investovala do amerického vývojáře pokročilých malých modulárních reaktorů Blue Energy. Transakce má urychlit komercializaci SMR a podpořit projekt GE Vernova Hitachi BWRX-300.
Constellation Energy’s (CEG) venture arm has taken a stake in a reactor development company that is working around a gas-to-nuclear deployment model in coordination with GE Vernova (GEV). The transaction marks Constellation’s first equity investment in a U.S. nuclear developer focused on advanced small modular reactors (SMRs).
Key Takeaways Constellation Technology Ventures completed its first equity stake in a U.S. advanced SMR developer via Blue Energy. Blue Energy previously raised $380 million to develop multi-gigawatt gas-to-nuclear projects with GE Vernova. Financial advisors can access exposure to both Constellation Energy and GE Vernova through the Range Nuclear Renaissance ETF (NUKZ). Accelerating the Deployment of Small Modular Reactors (SMRs) Constellation’s venture arm has made a strategic equity investment in prefabricated nuclear power plant developer Blue Energy. As the operator behind the largest nuclear reactor fleet in the U.S., Constellation expects the deal to accelerate commercialization. According to a company statement, Constellation’s investment will help Blue Energy meet growing national power demands by making nuclear development predictable, rapidly scalable, and project-financeable.
Furthermore, Constellation said the investment in Blue Energy reinforces its deployment plans for GE Vernova Hitachi’s small modular reactor (SMR), the BWRX-300. The technology provides a proven, scalable path toward next-generation nuclear infrastructure across domestic markets.
See more: Advanced Nuclear Power Projects: Commercial SMR Deals Boost NUKZ
Gas-to-Nuclear Infrastructure Gains Traction The deal follows significant momentum for Blue Energy earlier this year. The firm previously secured $380 million in capital and established a strategic alliance with GE Vernova to construct multi-gigawatt gas-to-nuclear projects.
This energy generation deployment method has attracted strong interest. Power becomes available on-site almost immediately from gas turbines while SMRs are built in the background. Once the reactors are operational, the gas turbines are removed from the site and the load operates only on the clean nuclear power source.
Accessing Nuclear Supply Chains via NUKZ Investors tracking the sector can find direct exposure to these market leaders through nuclear ETFs. Both GE Vernova and Constellation Energy are holdings in the Range Nuclear Renaissance Index ETF (NUKZ). GE Vernova represents the fund’s second-largest position, accounting for 4.3% of total portfolio assets as of July 20.
NUKZ tracks the VettaFi Nuclear Renaissance Index, which provides exposure to companies across the nuclear energy ecosystem, including hardware providers and fuel suppliers.
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vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for NUKZ, for which it receives an index licensing fee. However, NUKZ is not issued, sponsored, endorsed, or sold by VettaFi. VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of NUKZ.
Akcie Constellation Energy ve středu vzrostly o 4,66 % po zprávách o 30leté jaderné dohodě o spolupráci mezi USA a Saúdskou Arábií a o plánu vlády podpořit výstavbu elektráren za 200 milionů USD.
Constellation Energy (CEG +4.66%) stock was true to its name on Wednesday, as investors energetically traded it almost 5% higher. This was part of a broader rally in nuclear stocks, on the back of a splashy deal signed between the U.S. government and a key ally, plus reports of a new top-down initiative to spur power plant build-outs in this country.
The Saudi deal The Trump administration announced Wednesday that it had signed a long-term deal to help develop nuclear technology with Saudi Arabia. The 30-year pact formalizes nuclear cooperation between the two nations and pushes several U.S. energy companies into leading roles in build-outs in the strategic Middle Eastern country.
Image source: Getty Images.
It's important to note that Constellation isn't likely to be one of the main companies involved in the work, as its concentration is on domestic energy generation. Yet as the No. 1 operator of American nuclear plants, it could serve in an advisory or training capacity.
Besides, the government's striking this deal is yet another strong indication of its desire to promote and support the nuclear power industry.
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Continued domestic push Separately, Bloomberg reported that the administration is also planning to launch a new, $200 million program to support the construction of power plants within our borders. A key goal of this initiative, not surprisingly, is to satisfy the considerable power needs of artificial intelligence (AI)-ready data centers.
As nuclear plants produce considerable clean power, they are considered ideal facilities for such a push.
The Bloomberg article, which cited a document its reporters had seen, mentioned small modluar reactor (SMR) specialists Oklo and X-Energy as participants on the energy industry side, and Microsoft and Nvidia as partners from the tech sector.
Constellation was not mentioned in the article, as it operates full-scale nuclear facilities and not SMRs. Even if it doesn't end up playing a role in the program, it's sure to benefit from this latest top-down effort to boost the nation's power-generating capacity.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Constellation Energy je podle článku lepší volbou pro expozici vůči rostoucí poptávce po jaderné energii díky své rozsáhlé provozované flotile a již uzavřeným kontraktům s Microsoftem a Meta Platforms.
Nuclear energy demand is on the rise, driven by the massive power needs of artificial intelligence (AI) data centers. Because nuclear power possesses high power density and provides reliable, 24/7 baseload energy, it is increasingly becoming a top choice among major hyperscalers.
In the nuclear energy industry, innovative companies like NuScale Power (SMR -0.57%) have the potential to reimagine nuclear energy deployment with their small modular reactors. Meanwhile, established utilities such as Constellation Energy (CEG +4.66%), with their extensive nuclear fleet, stand ready to meet today's power challenges.
If you're looking to diversify your portfolio with nuclear energy stocks, there are a few key things you need to consider when considering an investment between NuScale Power and Constellation Energy right now.
Image source: Getty Images.
Next-generation data centers need nuclear power Modern data centers require massive amounts of energy. Training large language models requires running thousands of high-performance graphical processing units (GPUs) for months on end, while AI queries provide steady demand for AI-generated answers. The emergence of autonomous AI agents is another massive driver of non-stop loops that require continuous, reliable operation of AI data centers.
To meet growing AI demand, data center chips are packed into compact clusters that handle parallel computing across billions of variables. Because servers generate significant heat, they also require large liquid-cooling systems that consume substantial energy.
According to Goldman Sachs, U.S. data center power demand could spike to 66 GW and account for up to 8.5% of U.S. peak summer demand by 2027. Bank of America analysts forecast that over the next five years, data centers could add 125 GW of new U.S. electric load, representing a compound annual growth rate of electricity demand of 4.1%.
Hyperscalers like Alphabet, Amazon, Meta Platforms, and Microsoft need reliable energy while also meeting their long-term carbon-reduction goals. These data centers can't afford interruptions, which means intermittent wind and solar power need an extra boost, which is where nuclear energy comes into play.
Over the last couple of years, hyperscalers have invested in small modular reactors (SMRs) and nuclear plant restarts to meet these massive future energy demands.
NuScale's small modular reactors could change how nuclear energy is deployed NuScale Power is uniquely positioned in the SMR space, as it is the only company with a Standard Design Approval (SDA) from the Nuclear Regulatory Commission for its SMR technology. The company has an SDA for its 50-megawatt (MW) and 77 MW modules, giving it a crucial first-mover advantage in the advanced nuclear reactor space, where NRC approval can be a long and drawn-out process.
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The company has one approved project in Romania, where it will look to install 462 MWe using six modules at a former coal plant site. The company received a Final Investment Decision from shareholders and the Romanian government. As part of the deal, NuScale will install one 77 MW module to ensure it is functional, with the remaining five modules contingent on the module proving operational. Operations for this power plant are planned to start in 2033.
Beyond this, NuScale hopes to deploy a massive 6 GW of its power modules with the Tennessee Valley Authority (TVA). The company is working closely with ENTRA1 to secure a firm power purchase agreement and hopes to finalize a deal by the end of the year.
Constellation Energy operates the biggest nuclear energy fleet in the U.S. While NuScale is an up-and-coming nuclear energy company with a long timeline until its plants begin operations, Constellation Energy is an established utility company with a massive nuclear energy fleet. Constellation controls 22 GW of U.S. nuclear generation capacity and operates 21 commercial reactors at 12 locations.
Constellation has secured major deals over the past few years. In 2024, the company announced a 20-year power purchase agreement (PPA) with Microsoft, which involves the launch of the Crane Clean Energy Center and the restart of Three Mile Island Unit 1. The Crane Clean Energy Center will come online in 2028.
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In June of last year, Constellation signed a 20-year power purchase agreement with Meta Platforms to provide 1,121 MW of nuclear energy, beginning in June 2027. As part of this agreement, Constellation will relicense and expand its Clinton nuclear facility located in Illinois.
The company also continues to build on its massive energy platform. On July 16, Constellation's venture capital arm, Constellation Technology Ventures, invested in Blue Energy, which builds prefabricated modular nuclear power plant structures off-site and ships them to their final location. The company uses phased delivery, meaning it deploys gas turbines first, which will eventually transition to nuclear plants when reactor installations are completed.
Which stock is a better buy today? NuScale Power has a first-mover advantage with its NRC-approved SMRs. However, the company faces risks from the Department of Energy's Reactor Pilot Program, in which the DOE is leveraging its authority to reduce red tape and fast-track the testing and licensing of new reactor technologies by competitors.
For investors seeking explosive upside potential, NuScale could be an appealing buy, but it also carries massive risk, as it needs to secure additional contracts and prove it can successfully deploy and commercialize its SMR technology over the coming decade.
In contrast, Constellation Energy has an established fleet of nuclear capacity and is well positioned to benefit from booming energy demand in the near term, making it the better stock for investors looking to gain exposure to the growing nuclear energy industry right now.
Constellation Energy po akvizici Calpine provozuje flotilu o výkonu 55 GW a plánuje téměř 10 GW nové kapacity. Znovu také spouští závod Crane o výkonu 835 MW kvůli poptávce Microsoftu po AI.
Key Takeaways Constellation Energy operates a 55-GW fleet spanning nuclear, gas, geothermal, hydro, wind and solar. CEG plans nearly 10 GW of new capacity and will restart the 835-MW Crane plant for Microsoft's AI demand. CEG plans $5.7B in 2026 and $4.7B in 2027 capex to upgrade plants and support earnings growth. Constellation Energy (CEG - Free Report) benefits from its diversified power generation fleets, which enable it to deliver reliable electricity under changing market conditions. Its balanced generation mix supports the clean energy transition and meets rising electricity demand.
Following its acquisition of Calpine, CEG operates a diversified 55-gigawatt (GW) generation fleet spanning nuclear, natural gas, oil, geothermal, hydro, wind and solar, enough to power approximately 27 million homes. It produces nearly 10% of the nation's clean electricity, plans nearly 10 GW of new capacity and will restart the 835-megawatt (MW) Crane plant, supporting Microsoft's AI-driven demand and long-term growth.
The company is also expanding its generation portfolio to capture growing power demand. CEG’s Calpine unit completed a 25-MW expansion at The Geysers geothermal facility, strengthening its clean energy generation portfolio. It completed the 105-MW Pastoria Solar Project and the 460-MW Pin Oak Creek Energy Center, increasing its renewable and natural gas generation capacity. The company has also submitted nearly 5,000 MW of new nuclear uprates, natural gas and battery storage projects into PJM's interconnection queue, positioning it to benefit from increasing data center electricity demand.
The company plans capital expenditures of $5.7 billion in 2026 and $4.7 billion in 2027 to upgrade plants, extend asset life and support long-term earnings growth. Overall, CEG's diversified generation fleet and expansion projects support long-term earnings growth by meeting rising clean electricity demand.
Utilities Benefit From Diverse Power Generation PortfolioAn integrated energy portfolio combining renewable energy, natural gas, nuclear and energy storage helps diversify revenues, improve reliability and reduce fuel-price risks. It also enables companies to meet growing electricity demand and support long-term earnings growth.
NRG Energy (NRG - Free Report) operates a diversified 25 GW generation portfolio of natural gas, coal and renewable assets. Its integrated fleet enhances operational flexibility and supports growing electricity demand.
Vistra Corp. (VST - Free Report) operates a diversified portfolio of nearly 44 GW of generation assets, including natural gas, coal, nuclear, solar and battery energy storage. Its balanced fleet provides operational flexibility and supports rising electricity demand.
The Zacks Rundown on CEGCEG’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 25.03% and 16.02%, respectively, year over year.
Image Source: Zacks Investment Research
CEG’s Returns on Equity (ROE)Constellation Energy's trailing-12-month ROE is 16.81%, ahead of the industry average of 7.15%.
Image Source: Zacks Investment Research
CEG’s Stock Price PerformanceIn the past month, the company’s shares have plunged 6% compared with the industry’s 12.1% fall.
Constellation Energy investuje do Blue Energy, startupu vyvíjejícího prefabrikované jaderné elektrárny využívající loděnice. Cílem je zkrátit výstavbu na tři roky a využít rostoucí poptávku datacenter po stabilní energii.
Trying to connect the dots? You and I may not be able to, but Constellation Energy (CEG +0.25%) is doing just that with its latest power move.
Constellation, the largest nuclear energy company in the U.S., has invested an undisclosed sum in Blue Energy, a start-up specializing in prefabricated nuclear power plants. The real kicker isn’t the tech – how this newcomer builds those plants is where the disruption lies, and exactly why Constellation decided it’s worth the bet.
Image source: Getty Images.
Playing the nuclear energy boomConstellation Energy is the undisputed clean energy leader in the U.S., operating the nation’s largest nuclear fleet. That dominance has thrown the company straight into the spotlight of the artificial intelligence (AI) infrastructure boom.
Data centers consume staggering amounts of electricity, and they require uninterrupted, 24/7 power to keep their servers and cooling systems running. While solar and wind are intermittent, nuclear isn’t.
The macro tailwinds are stronger than ever, with the U.S. government planning to quadruple domestic nuclear capacity by 2050. The problem is execution. Building a traditional nuclear reactor can easily take over a decade and tens of billions of dollars.
Blue Energy directly tackles the industry's two biggest bottlenecks: speed and financing. Their solution? Shipyards.
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Why CEG thinks a shipyard can fit the nuclear equationThe biggest budget-killer in a nuclear power plant isn’t the reactor itself. It is the buildings, structures, pipes, and cooling systems that can cause the maximum delays and cost overruns.
Shipyards already have mass assembly-line manufacturing processes in place. They also have the indoor, weather-controlled spaces, high-capacity cranes, and automated robotic set-ups designed for steel ships and offshore oil rigs.
Blue Energy plugs its design right into this existing infrastructure to weld and prefabricate nuclear plants at speed, and then transports them to the installation site on barges. It can get a plant up and running in just three years.
To top that, while traditional nuclear relies on government loan guarantees, Blue Energy can monetize the asset quickly. It can start a plant on natural gas within three years and generate revenue while it finishes installation and approvals.
Blue Energy’s proprietary plant design can house regulatory-approved Light Water Reactors (LWRs), such as GE Vernova (GEV +2.09%)-Hitachi BWRX-300 SMR (small modular reactor). Blue Energy and GE Vernova are already collaborating to build a power plant using BWRX-300 at Blue Energy’s first planned site in Texas, with GE Vernova scheduled to deliver two gas turbines by 2029 to kickstart the plant.
Why this matters for Constellation Energy investorsThis isn't a speculative bet. Constellation has signed monumental, long-term power purchase agreements, including 20-year deals with Meta (META 2.79%) and Microsoft (MSFT 1.67%) each. Demand is so high that Constellation expects to generate $11.5 billion and $13 billion in free cash flow (before growth spending ) in 2028 and 2029 versus $8.4 billion in 2026-2027.
Constellation can’t bank on traditional nuclear reactors to deliver new baseload capacity, and is trying to position itself at the front of the line for the first wave of rapidly deployable, bankable SMR tech.
If Blue Energy’s shipyard model delivers on its three-year timeline, Constellation could secure a repeatable blueprint to capture the surging hyperscale demand long before traditional nuclear competitors can even break ground.
Blue Energy získala strategickou kapitálovou investici od Constellation Technology Ventures na urychlení výstavby prefabrikovaných jaderných elektráren. Investice podpoří nasazení technologie GE Vernova Hitachi BWRX-300.
, /PRNewswire/ -- Blue Energy, a developer of financeable, prefabricated nuclear power plants, today announced a strategic equity investment from Constellation Technology Ventures, the venture arm of Constellation (Nasdaq: CEG), the nation's largest producer of clean energy and operator of the largest fleet of nuclear power plants in the United States. The investment reflects a growing confidence in Blue Energy's strategy to utilize shipyard manufacturing and project financing to deploy proven reactor technology that has the potential to accelerate new nuclear development – making it predictable, faster and more affordable. It also marks the first investment by Constellation Technology Ventures in a U.S. nuclear developer advancing small modular reactors.
"With demand for near-term power rising, Constellation's investment will help Blue Energy meet America's need by making new nuclear development predictable, rapidly scalable, and project financeable for the first time in history. This relationship helps us leverage an established operator, proven technology, and innovative, project-financeable deployment models to expand access to nuclear energy," said Jake Jurewicz, Blue Energy CEO and Co-Founder. "Together, we're demonstrating that the future of nuclear energy isn't a decade away and doesn't take a leap of faith on technology or construction execution, it's being built right now."
"Constellation is committed to exploring innovative pathways that can help accelerate the deployment of advanced nuclear technologies in the United States and allocate risk appropriately," said David Dardis, Constellation Senior Executive Vice President and Chief External Affairs and Growth Officer. "The Constellation Technology Ventures investment in Blue Energy supports its deployment plans for the GE Vernova Hitachi's BWRX-300, a proven technology with a potential path to scale for the next generation of nuclear energy."
Blue Energy's model is designed to address one of the biggest challenges facing the nuclear industry: how to finance and deploy new nuclear generation at the speed required to meet growing demand. By utilizing proven nuclear technology and employing an innovative large-format robotic prefabrication and assembly method inspired by offshore oil & gas and LNG projects, the company plans to unlock project financing for the first time in the nuclear sector and accelerate deployment timelines.
Earlier this year, Blue Energy announced it raised $380 million and forged a strategic partnership with GE Vernova to develop a multi-gigawatt gas-to-nuclear project utilizing GE Vernova gas turbines and BWRX-300 small modular reactors. The company also recently secured a key U.S. Nuclear Regulatory Commission licensing milestone that supports its goal of delivering reliable power in 48 months or less through its phased gas-to-nuclear deployment strategy. Blue Energy could begin early site works on its first planned project in Texas in 2026, to support a final investment decision in 2027.
About Blue Energy
Founded in 2023, Blue Energy develops financeable, turnkey nuclear power plants compatible with leading reactor technology. Our proprietary lower cost of capital solution and offsite pre-fabrication accelerates new nuclear deployment – making it predictable, faster and more affordable. We will deliver baseload power competitive with fossil fuels and renewables to meet unprecedented global demand. Blue Energy's world-class team has extensive experience in nuclear construction, licensing, engineering, and development. We stem from MIT's Nuclear Science & Engineering Department and are backed by VXI Capital, Engine Ventures, At One Ventures and Tamarack Global. Visit www.blueenergy.co or follow us on LinkedIn.
Constellation Energy uzavřela 20letou smlouvu na dodávky jaderné energie s Metou a další dohodu s Walmartem. Těží z rostoucí poptávky po elektřině i z napjaté situace kolem kapacity pro AI.
Constellation Energy (CEG +0.26%) is an independent power producer. That said, it is also one of the largest nuclear power providers in the United States. When nuclear power was all the rage among investors, the stock's price rallied, and its price-to-earnings ratio skyrocketed to nearly 50x. That wasn't a realistic valuation for the business, but the subsequent stock decline has changed the math. Here's what you need to know.
Constellation Energy gets better and cheaper The big story with Constellation Energy is that it sells power outside of the regulated framework. That means it can ink deals directly with customers at market rates. Notably, it recently agreed to sell nuclear power to Meta (META +6.16%) under a 20-year contract, helping to support that technology giant's AI ambitions. However, it also just penned a nuclear power deal with Walmart (WMT +1.51%), supporting the world's largest retailer's goal of increasing its use of clean energy.
Image source: Getty Images.
The Meta deal came during a period when anything related to nuclear power was a hot commodity on Wall Street. But that enthusiasm has waned, leading to a deep price decline. Constellation Energy's P/E ratio is now a far more reasonable 21x. Only the Walmart deal shows that AI isn't the only growth driver, a fact further supported by the company's purchase of Calpine, which expanded its footprint in the natural gas power space.
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At this point, Constellation Energy is helping to solve the AI power crunch and doing a whole lot more, as well. What's important to recall is that AI's power demand is part of what is driving overall electricity demand. Notably, electricity demand increased by 10% between 2005 and 2025 and is expected to increase by 60% between 2025 and 2045. This isn't an industry-specific event, and Constellation Energy has created a business that can benefit from the big picture changes taking shape, not just artificial intelligence.
Not cheap, but still attractive To be fair, with a 21x P/E ratio, it would be hard to call Constellation Energy cheap. That said, the average utility stock has a P/E ratio of about 20x, so Constellation isn't exactly expensive, either. And its ability to sign long-term contracts at market rates, unlike regulated utilities, gives it more growth appeal. If you are looking for a way to benefit from AI's demand crunch, now is the time to give Constellation Energy a second look.
Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy, Meta Platforms, and Walmart. The Motley Fool has a disclosure policy.
AI roste i díky energii: Constellation Energy uzavřela 20leté smlouvy na dodávky elektřiny pro datová centra Microsoftu, Meta Platforms a CyrusOne. Její jaderné zdroje jsou připravené dodávat výkon hned.
Whether you use large language models like OpenAI's ChatGPT or you're familiar with artificial intelligence (AI) tools like Siri from Apple and Copilot from Microsoft -- or you lean on AI found in various apps and platforms to complete everyday tasks, you're likely well aware of how dominant AI has become in our daily lives.
Most investors familiar with the burgeoning field of AI will point to semiconductor companies as pivotal to the industry's growth.
But investors who only recognize semiconductor stocks as AI investment opportunities are missing out. In fact, there's another stock that's critical for AI growth.
Image source: Getty Images.
Semiconductor stalwarts often steal the spotlight It goes without saying that semiconductor specialist Nvidia attracts the attention of AI investors. The company's consistent innovation and development of chips -- specifically, graphics processing units (GPUs) -- used in data centers has played a vital role in the industry's accelerating growth.
Nvidia's not alone. Other semiconductor companies, such as Micron Technology, which designs memory and storage solutions, are also benefiting from the growth of the AI industry. The company's high-bandwidth memory products, for example, support faster inference and scaling of agentic AI workflows.
While these two companies receive the majority of attention, numerous companies are nipping at their heels. Investors may recognize some of these competitors, but one company is playing an equally -- if not more -- important role in the AI industry's growth, and it represents a different industry altogether.
AI is aiming for the stars with this energy company Data center operators may use extraordinarily advanced GPUs to provide the computing infrastructure for AI applications, but it means little if there's inadequate power to keep the chips humming. That's where Constellation Energy (CEG +1.26%) come in.
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AI computing demands significant amounts of power. To meet this demand, many data center operators are turning to nuclear energy companies, from advanced nuclear reactor companies to established nuclear energy leaders like Constellation Energy.
In 2024, Constellation Energy announced it plans to restart operations at Three Mile Island after signing a 20-year power purchase agreement with Microsoft, which will purchase energy from the nuclear plant to support its data centers in the region.
Building on its partnership with Microsoft, Constellation signed a 20-year power purchase agreement with Meta Platforms in June 2025 for nuclear power generated at the Clinton Clean Energy Center in Illinois. Operations at the nuclear facility are expected to resume in 2027, at which point Meta will use the power to support its AI data centers.
More recently, Constellation announced that its recently acquired unit, Calpine, signed a 380-megawatt (MW) agreement with CyrusOne, a leading global data center developer and operator, to connect and serve a new data center adjacent to the Freestone Energy Center, a natural gas power plant located in Texas. This complements a 400-MW power purchase agreement the two companies inked last year for a new data center CyrusOne is developing in Bosque County, Texas.
Constellation is benefiting now from AI power demand Advanced nuclear reactor companies have gained interest among AI companies, but they require regulatory approval before they can commence operations. Constellation, conversely, doesn't have to wait. Its nuclear assets are ready to provide much-needed power to data center operators right now, making Constellation stock an alluring option for AI-focused investors.
Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Constellation Energy, Meta Platforms, Micron Technology, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Constellation uzavřela dlouhodobou PPA s Walmartem na téměř 176 MW bezemisní elektřiny z Dresdenu ve dvou 15letých smlouvách začínajících v letech 2029 a 2030. Dříve podepsala 20letou smlouvu s Meta na 1 121 MW z Clintonu.
Key Takeaways Constellation's nuclear PPAs with Walmart and Meta highlight rising demand for clean power. CEG will supply Walmart nearly 176 MW from Dresden under two 15-year contracts starting in 2029. Constellation's Meta deal supports Clinton operations, adds 30 MW and generates $13.5M in annual taxes. Constellation Energy Corporation (CEG - Free Report) benefits from increasing demand for dependable, carbon-free energy from commercial and industrial customers. Its large-scale nuclear fleet, proven operational expertise and ability to structure customized long-term power purchase agreements (PPA) create a durable competitive advantage.
On June 23, 2026, the company announced that it had entered into a long-term PPA with Walmart to provide nearly 176 megawatts (MW) of emissions-free electricity from the Dresden Clean Energy Center in Illinois under two 15-year contracts starting in 2029 and 2030. The agreement highlights the increasing value of existing nuclear assets as businesses seek reliable, carbon-free electricity through long-term power agreements.
Earlier, in June 2025, Constellation signed a 20-year agreement to supply Meta with 1,121 MW of emissions-free nuclear power from the Clinton Clean Energy Center starting in 2027. The deal supports the plant's continued operations, funds upgrades that add 30 MW of capacity and generates $13.5 million in annual tax revenues.
The company's long-term PPA agreements with Meta and Walmart demonstrate the rising importance of its nuclear fleet in meeting growing clean energy demand. Constellation is well-positioned to secure more long-term power agreements as companies accelerate their carbon reduction efforts.
Constellation, by improving the performance of its existing nuclear plants and making strategic investments, will be able to accommodate more PPAs with customers in the long run, which in turn will boost earnings and cash flow.
Long-Term PPAs Drive Future GrowthLong-term PPAs provide stable, predictable revenues, shield companies from wholesale electricity price volatility and facilitate investment in new power generation projects. They also strengthen customer relationships and create opportunities for capacity expansion, ultimately supporting long-term earnings growth and shareholder value.
On Feb. 24, 2026, AES Corporation (AES - Free Report) stated that it has entered into a 20-year PPA with Google to develop co-located energy projects for a new data center in Texas.
On Feb. 9, 2026, TotalEnergies (TTE - Free Report) announced it has entered into two 15-year power purchase agreements with Google to supply 1 gigawatt of solar power from projects under development in Texas.
CEG’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 25.03% and 16.02%, respectively, year over year.
Image Source: Zacks Investment Research
CEG’s Returns on Equity (ROE)Constellation's trailing-12-month ROE is 16.81%, ahead of the industry average of 7.15%.
Image Source: Zacks Investment Research
CEG’s Stock Price PerformanceIn the past month, the company’s shares have plunged 0.6% against the industry’s 1% growth.
CEG plánuje v roce 2026 kapitálové výdaje ve výši 5,7 mld. USD na zásoby paliva, zvýšení výkonu, prodloužení licencí a modernizaci elektráren. Po akvizici Calpine dál posiluje čistou energetiku, hlavně jadernou, plynovou a geotermální.
Key Takeaways CEG's clean-energy platform is anchored by nuclear power, with renewables and gas supporting growth. Calpine added gas and geothermal assets, plus solar and geothermal projects, boosting capacity.CEG plans $5.7B in 2026 capex to support fuel inventory, uprates and plant upgrades. Constellation Energy Corporation (CEG - Free Report) presently operates an integrated clean-energy platform anchored by zero-carbon nuclear generation, supported by a large fleet of flexible natural gas-fired plants and renewable energy assets. At the end of 2025, CEG's generation portfolio totaled 31,676 megawatts (MW). Currently, nearly 85% of its generation comes from nuclear energy.
Although the company relies heavily on nuclear energy and natural gas to produce clean electricity for its customers, CEG is steadily expanding its renewable generation capacity, further strengthening its clean-energy portfolio. CEG’s strategic investments in solar, wind, geothermal and battery storage projects position it to meet growing carbon-free electricity demands from data centers and commercial customers. Renewable expansion advances decarbonization efforts and positions CEG to capitalize on favorable tax incentives and accelerating electrification trends.
At the end of 2025, CEG's generation consisted of roughly 2,561 MW of renewable capacity. The Calpine acquisition, completed in January 2026, was significant as it added efficient natural gas and geothermal facilities to its generation portfolio, strengthening its generation mix and expanding its clean electricity generation platform.
Calpine, a wholly owned subsidiary of Constellation Energy, completed the 105-MW Pastoria Solar Project, which will assist in decarbonizing the State Water Project. Recently, Calpine expanded the power-generating capacity of The Geysers Geothermal Complex by 25 MW, capable of powering more than 25,000 homes across California. This enhances grid reliability, supports rising electricity demand across California and creates opportunities for long-term revenue growth.
CEG expects capital expenditures of approximately $5.7 billion in 2026 and $4.7 billion in 2027, supporting nuclear fuel inventory buildup and growth investments in uprates, license renewals and plant upgrades.
Renewable energy also offers significant economic benefits, as resources such as wind, solar and geothermal are not exposed to volatile fuel prices. Technological progress in recent years has driven cost efficiencies, supported revenue growth and strengthened the company's competitive position.
Clean Fuel Focus: Companies Benefit From the TransitionA clear transition is evident in the utility space and the operators are gradually shifting toward clean energy resources to produce electricity. Courtesy of its technological developments, utility-scale renewable plants are becoming cost-effective and are providing support to the grid.
NextEra Energy, Inc. (NEE - Free Report) plans to expand its renewable generation portfolio by approximately 76.6-107.6 gigawatt (GW) through 2032 and currently maintains a development backlog of more than 33 GW. Of the expected additions, solar, wind and gas projects are expected to add 31.5-41.5 GW, 8.5-14.5 GW and 4-8 GW, respectively.
The Southern Company (SO - Free Report) plans to expand its renewable generation portfolio by approximately 20,000 MW by mid-2030 and expects to invest $1 billion in renewable generation in 2030.
CEG’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 24.92% and 16.62%, respectively, year over year.
Image Source: Zacks Investment Research
CEG’s Returns on Equity (ROE)Constellation Energy's trailing-12 months ROE is 16.81%, ahead of the industry average of 7.08%.
Image Source: Zacks Investment Research
CEG’s Stock Price PerformanceIn the past month, the company’s shares have plunged 7.1% compared with the industry’s 0.6% decline.
Constellation a Walmart uzavřely dlouhodobou 15letou smlouvu na bezemisní elektřinu z jaderné elektrárny Dresden v Illinois. Dohoda zahrnuje přibližně 176 MW dodávek a 30 MW nové kapacity.
Agreement supports Walmart’s expansion in the state and includes uprates at the Dresden Clean Energy Center
BALTIMORE & BENTONVILLE, Ark.--(BUSINESS WIRE)--Constellation (Nasdaq: CEG) and Walmart (Nasdaq: WMT) today announced a long-term nuclear power purchase agreement (PPA) for emissions-free electricity from Constellation’s Dresden Clean Energy Center in Illinois. The agreement includes approximately 176 MW of wholesale supply, including 30 MW of expanded generating capacity.
Walmart will purchase energy, environmental attributes and capacity through two 15‑year terms beginning in 2029 and 2030. This agreement supports reliable nuclear energy in the region and enables planned uprates — efficiency upgrades that increase output from existing nuclear units without the need to build a new facility. The agreement is expected to help Walmart access cleaner energy and strengthen local energy infrastructure — while continuing to serve customers with everyday low prices.
“This agreement reflects long‑term stewardship of critical infrastructure, the communities it serves, and the energy system that powers American growth,” said Jim McHugh, Senior Executive Vice President and Chief Commercial Officer, Constellation. “Walmart’s commitment enables meaningful investment in the Dresden Clean Energy Center — bolstering reliability, sustaining local jobs and economic activity, and putting more dependable, emissions-free energy onto the Illinois power grid.”
Through uprates at the Dresden Clean Energy Center, this agreement will provide enough new power to the grid to support Walmart’s previously announced high-tech perishable distribution center, currently in development in Belvidere, Ill. Together, these investments strengthen the local community by supporting jobs and enabling continued expansion of Walmart’s supply chain operations and workforce.
“Walmart has a long history of investing in energy solutions that support our business and the communities where we operate, and this agreement builds on that work,” said Shayne Wahlmeier, SVP Energy – Walmart US. “Working with Constellation allows us to support new operations in Illinois while advancing our strategy in a way that prioritizes affordable, reliable, and clean energy for our business and the communities we serve. We’re constantly evaluating new capabilities and energy solutions that help ensure the electricity we rely on is dependable, responsibly produced, and built to support long-term growth.”
This agreement marks Walmart’s first nuclear PPA and is among the first of its kind between a large retailer and a nuclear energy facility in the United States. The agreement follows Constellation’s December 2025 license renewal announcement for Dresden and supports continued investment in Dresden’s long‑term reliability and performance. Licensed to operate through 2049 and 2051, the Dresden Clean Energy Center provides baseload, reliable carbon-free electricity for the region and supports more than 1,100 family-sustaining jobs.
Constellation and Walmart have both maintained a longstanding presence in Illinois. Constellation’s generation footprint produces enough energy to power more than eight million homes, and Walmart’s retail operations total approximately 175 stores and clubs with more than 55,000 associates in the state. Both companies view the PPA as an extension of their shared, long-term commitment to the communities where they operate.
About Constellation
Constellation Energy Corporation (Nasdaq: CEG), a Fortune 200 company headquartered in Baltimore, is the largest private-sector power producer in the world and the nation’s largest producer of clean and reliable energy. With 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities, our fleet has the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation’s clean energy and delivering the around-the-clock reliability needed to power America’s growing economy. We are also the largest nuclear energy company in the U.S. and a leading competitive retail supplier, serving approximately 2.5 million customer accounts nationwide, including 80% of the Fortune 100. We are committed to investing in innovation and new technologies to drive the transition to a reliable, sustainable and secure energy future. Follow Constellation on LinkedIn and X.
About Walmart
Walmart Inc. (Nasdaq: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 280 million customers and members visit more than 10,900 stores and numerous eCommerce websites in 19 countries. With fiscal year 2026 revenue of $713 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.
