Microsoft announces plan to reopen Three Mile Island nuclear power plant to support AI [USA TODAY]
Constellation Energy Corporation (CEG)
Company Research
Source: USA TODAY
On Friday, Constellation Energy and Microsoft the signing of a 20-year power purchasing agreement, in which one of the reactors at the Three Mile Island nuclear power plant would be brought back online to exclusively serve the energy needs of the tech giant's massive data centers that help support artificial intelligence. Neither Constellation Energy nor Microsoft disclosed the financial terms of the deal. Reviving the Unit 1 reactor at Three Mile Island, which was shut down in 2019, will require approval by the U.S. Nuclear Regulatory Commission. If granted, the power plant is expected to return to operation in 2028. A first for nuclear power “Powering industries critical to our nation's global economic and technological competitiveness, including data centers, requires an abundance of energy that is carbon-free and reliable every hour of every day, and nuclear plants are the only energy sources that can consistently deliver on that promise,” Joe Dominguez, president and CEO
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- Why A $16 Billion Deal To Revive Three Mile Island Is A Game Changer For U.S. Nuclear [Yahoo! Finance]Yahoo! Finance
- The utilities sector is a ‘growth industry', says Veriten's Michael Bradley [CNBC]CNBC
- Update: Constellation Energy to Restart Pennsylvania Nuclear Plant Under Power Purchase Deal With Microsoft [Yahoo! Finance]Yahoo! Finance
CEG
Earnings
- 8/6/24 - Beat
CEG
Sec Filings
- 7/2/24 - Form 4
- 7/2/24 - Form 4
- 7/2/24 - Form 4
- CEG's page on the SEC website