Google, Constellation Energy Sign 20-Year Nuclear Power Deal Worth $4.3 Billion
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Google's parent company, Alphabet Inc., has entered into a 20-year power-purchase agreement with Constellation Energy, which will facilitate over $4.3 billion in investments to upgrade systems at 11 nuclear reactors. This deal is expected to provide 3,590 megawatts of power, with new nuclear energy accounting for approximately 25% of that supply.
Following the announcement, Constellation's stock has surged, reflecting the significance of the agreement, which is likened to adding a new nuclear reactor to the grid but achieved more rapidly. The deal underscores Google's commitment to securing energy sources amid rising demands, particularly as the AI energy crunch intensifies.
Sources
Every quote below is verbatim from the article it is attributed to.
“Google parent Alphabet Inc. agreed to buy nuclear power from Constellation Energy in a 20-year power-purchase agreement that will drive more than $4.3 billion in investments to upgrade systems at 11 Constellation reactors.”
Bloomberg — Google, Constellation Energy Strike Nuclear Power Deal
“Constellation's stock is rising sharply following a deal that equates to as much power as would be supplied by a new nuclear reactor.”
MarketWatch — Google makes a fresh bet on nuclear power as the AI energy crunch intensifies“The Google deal will be like adding a nuclear reactor to the grid, but faster.”
IBD — Google Nuke Deal Jolts Constellation Energy To Top Of S&P 500
“Laila Kearney / Reuters: Google contracts for 3,590 MW of power from Constellation Energy in the US' largest power grid, with new nuclear energy accounting for ~25% of that supply — Google”
techmeme — Google contracts for 3,590 MW of power from Constellation Energy in the US' largest power grid, with new nuclear energy accounting for ~25% of that supply (Laila Kearney/Reuters)
Earlier versions
- Oct 6, 11:41 AM — Google Signs 20-Year Nuclear Power Deal with Constellation Worth $4.3 Billion (2/2)