Talen Energy Secures Nuclear Energy Deal with Amazon
Talen Energy Corporation (NASDAQ:TLN) is included among the Best Nuclear Energy Stocks to Buy Right Now. The company made headlines recently when it was announced that Amazon had signed a deal with the utility to secure 1.92 GW of carbon-free electricity for AWS data centers.
An aerial view of a nuclear plant, its domes casting a unique shadow.
The electricity will be sourced from Talen's Susquehanna nuclear plant and delivered under a long-term power purchase agreement through 2042, with potential for extension. The two companies will also explore constructing new small modular reactors within Talen's Pennsylvania footprint, with the partnership also pursuing uprates to expand the nuclear plant's energy output.
Mac McFarland, President and CEO at Talen Energy Corporation (NASDAQ:TLN), stated:
'Our agreement with Amazon is designed to provide us with a long-term, steady source of revenue and greater balance sheet flexibility through contracted revenues. We remain a first mover in this space and intend to continue to execute on our data centre strategy.'
It needs mentioning that Talen Energy Corporation (NASDAQ:TLN) already signed a deal with AWS last year to power a 960 MW data center for the cloud service provider. The first phase for up to 300 MW of power is in place, but the additional phases are under review by the Federal Energy Regulatory Commission.
Talen Energy Corporation (NASDAQ:TLN) has surged by more than 30% since the beginning of the year.
Talen Energy Corporation (NASDAQ:TLN) is a leading independent power producer and energy infrastructure company with 10.7 GW of generation assets, including 2.2 GW of nuclear power.
While we acknowledge the potential of TLN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Cheap Energy Stocks to Buy Now and
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