Meta Platforms signs a 20-year agreement with Constellation Energy to support nuclear reactor in Illinois

From Yahoo Finance: 2025-06-03 06:36:00

Meta Platforms has reached a 20-year deal with Constellation Energy to keep a nuclear reactor in Illinois operating. This is Meta’s first agreement with a nuclear power plant as Big Tech companies seek to secure electricity amid rising U.S. power demand from AI and data centers.

The deal will help keep Constellation’s Clinton Clean Energy Center open beyond 2027, when a zero emissions credit program expires. The U.S. Nuclear Regulatory Commission must renew the plant’s license, which Meta’s power purchase will support. This model could be used by other Big Tech companies to back existing nuclear plants.

Constellation Energy shares rose 5.7% after the announcement. Financial details of the deal were not disclosed but could amount to billions. The agreement also allows Constellation to expand the plant’s capacity by 30 MW, providing power for about 800,000 U.S. homes.

Meta’s head of global energy, Urvi Parekh, highlighted the importance of maintaining operating power plants. Constellation’s CEO, Joe Dominguez, is in talks with other clients nationwide for similar agreements. The deal is seen as the first of many following President Trump’s orders to boost U.S. nuclear capacity.

Big Tech companies like Meta and Microsoft are securing power deals with nuclear plants to support their energy needs. The growing demand for electricity from data centers is driving major power agreements. Vistra Corp and NRG Energy have also announced significant acquisitions recently to meet this demand.



Read more at Yahoo Finance: Meta strikes power agreement with Constellation nuclear plant