The deal involves an investment exceeding $3 billion to modernize the Maryland-based facility, which currently features two reactors capable of powering 1.3 million homes. Planned upgrades will add 190 megawatts of capacity between 2030 and 2032, providing Constellation with long-term revenue certainty while the utility pursues a 20-year license extension for the site.
Goldman analyst Carly Davenport described the arrangement as a significant development for the broader power sector, particularly within the PJM Interconnection grid. The PJM region has faced volatility and regulatory uncertainty, which has previously dampened investor confidence in new data center energy contracts. By securing this supply, Amazon gains operational stability across the 13-state grid, while Constellation sees a potential boost to its free cash flow growth. Shares of Constellation Energy rose nearly 4% in pre-market trading following the announcement, reflecting market optimism regarding the role of nuclear infrastructure in the modern digital economy.
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