Mentioned:
Amazon is deepening their commitment to nuclear power. And they’re partnering up with Constellation Energy to do it.
What’s happening:
- Amazon (NASDAQ: AMZN) has entered into a 20 year power purchase agreement with Constellation Energy (NASDAQ: CEG) to buy 690 megawatts of power from Constellation Energy’s Calvert Cliffs nuclear plant
Why it matters:
- This is the third 20 year nuclear power purchase agreement that Constellation Energy has done with a major technology company, following deals with Microsoft (NASDAQ: MSFT) and Meta Platforms (NASDAQ: META)
Going deeper:
- Constellation Energy expects to invest more than $3B USD towards upgrading the entire Calvert Cliffs plant and bringing roughly 190 megawatts of new generating capacity online
- Constellation Energy has been landing a flurry of new major power purchase agreements from some of the world’s largest companies, including notably striking a 15 year deal with Walmart (NASDAQ: WMT)
