Meta (META) has signed a 20-year agreement to buy nuclear power from Constellation Energy (CEG), CNBC’s Pippa Stevens reports. Beginning in 2027, Meta will purchase about 1.1 gigawatts of power from Constellation’s Clinton Clean Energy Center in Illinois. “We are proud to partner with Meta. … They figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy,” said Joe Dominguez, Constellation’s president and CEO. “Sometimes the most important part of our journey forward is to stop taking steps backwards.” The plant will not power Meta’s data centers directly, Stevens notes. Shares of Constellation Energy are up nearly 15% in premarket trading.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Meta signs 20-year contract to buy power from Constellation Energy
- Meta to challenge EC classification of FB Messenger, Marketplace, WSJ says
- AI Daily: Samsung nearing deal to invest in Perplexity
- Meta Stock Higher as It Goes Full Pelt on AI Ads
- Meta shareholders reject proposal to assess if Bitcoin added to balance sheet
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue