Constellation Energy Corp (NASDAQ:CEG) saw its shares surge over 14% in premarket trading on Tuesday after inking a major clean energy agreement with tech giant Meta Platforms Inc (NASDAQ:META).
Under the terms of the newly announced 20-year pact, Meta will begin purchasing approximately 1.1 gigawatts of nuclear energy from Constellation’s Clinton Clean Energy Center in Illinois starting in June 2027. This volume of electricity corresponds to the entire output from the plant’s single operating reactor.
The long-term deal not only guarantees continued operation of the Clinton facility but also supports efforts to renew its operating license—an increasingly important move since the expiration of the zero-emission credit the plant had relied on since 2017 left its future in doubt.
Joe Dominguez, Constellation’s president and CEO, welcomed the partnership, calling it a significant step toward strengthening the nation’s existing clean energy infrastructure. “Supporting the relicensing and life extension of existing plants can be just as powerful as finding new sources of clean energy,” Dominguez remarked.
Constellation further revealed that it is considering filing for a new permit with the Nuclear Regulatory Commission, exploring the possibility of installing a small modular reactor at the Clinton location in the future.
While the financial specifics of the arrangement weren’t disclosed, the deal will lead to a 30-megawatt increase in output at the Clinton facility.
Despite the partnership, none of the power will be delivered directly to Meta’s operations. Instead, electricity will feed into the broader regional grid, helping Meta reach its commitment to sourcing 100% of its energy from clean sources.