Meta Platforms Strikes Nuclear Power Deal With Constellation Energy

Meta Platforms (META) has signed a 20-year agreement to buy nuclear power from Constellation Energy (CEG).

The deal comes as a growing number of technology companies strike deals with utilities to meet their growing power needs, particularly for artificial intelligence (A.I.) data centres.

Starting in June 2027, Meta will buy 1.1 gigawatts of energy from Constellation’s “Clinton Clean Energy Center” in Illinois, which is the entire output from the site’s one nuclear reactor.

The companies said the long-term agreement will support the continuing operation of the plant, as well as its relicensing.

Without the Meta deal, the Illinois plant was in danger of closing when its zero-emission credit expires. Dollar figures for the agreement were not disclosed by the companies.

In a news release, Meta Platforms said the deal with Constellation Energy meets its goal of using 100% clean electricity.

Anticipating demand from technology companies, Constellation Energy said last September it would restart the infamous Three Mile Island nuclear reactor, the site of the worst nuclear meltdown in American history.

Google parent company Alphabet (GOOGL) recently pledged to fund the development of three nuclear plants and has also teamed up with small modular reactor developer Kairos Power.

Amazon (AMZN) has invested more than $500 million U.S. to develop small nuclear reactors and bought a data centre campus powered by the Susquehanna nuclear plant.

And Microsoft (MSFT) has said it will partner with Constellation Energy on the relaunch of Three Mile Island.

U.S. President Donald Trump recently signed several executive orders aimed at speeding up the deployment of nuclear power projects, including faster regulatory approval of reactors.

Constellation Energy’s stock is up 15% on news of the deal with Meta Platforms and trading at $355.11 U.S. per share.

Meta Platforms’ stock has gained 12% this year to currently trade at $670.90 U.S. per share.