Latest news with #ClintonCleanEnergyCenter
Yahoo
5 days ago
- Business
- Yahoo
Meta Platforms Is Going Nuclear to Power its AI Technologies
Meta Platforms is signing a 20-year deal to buy nuclear power from Constellation Energy. The deal will extend the life of Constellation's Clinton Clean Energy Center for two more decades. It further enhances Constellation Energy's growth profile. 10 stocks we like better than Meta Platforms › Meta Platforms (NASDAQ: META) is building artificial intelligence (AI) technologies that have the power to transform the global economy. This powerful technology requires a tremendous amount of energy to thrive. Some AI data centers use more electricity than an entire city. That's leading Meta Platforms to ensure it has the energy it needs to run its cloud and AI operations by signing power purchase agreements (PPAs) with major clean energy producers. It recently inked a 20-year deal with Constellation Energy (NASDAQ: CEG) for all the power produced at its Clinton Clean Energy Center in Illinois. That agreement will provide Meta with more clean power for its data centers, while further enhancing Constellation Energy's long-term growth profile. Meta Platforms is signing a 20-year PPA for the entire output of Constellation's Clinton Clean Energy Center -- 1,121 megawatts (MW). The deal begins in June 2027 and will support the relicensing of this nuclear energy facility. The agreement will also enable Constellation Energy to expand this facility's output by 30 MW through plant uprates (regulatory approval to operate safely at a higher power level). This deal supplies Meta Platforms with clean and reliable energy to help meet its growing power needs for the next 20 years. The agreement will provide the technology giant with a significant amount of electricity (the plant can support the energy needs of more than 800,000 homes). Further, it helps the company deliver on its objective of powering 100% of its operations with clean power. Meanwhile, unlike renewable energy, which is intermittent due to variations in wind speed and sunlight, nuclear power is an always-on power source that produces at a steady rate 24 hours a day, seven days a week, 365 days a year. That's crucial for data centers, which require a stable source of power. Meta's deal with Constellation Energy likely won't be its last nuclear power deal. The company wrote in a blog post that it's in final discussions with a short list of other potential projects to meet its goal of securing an additional 1 to 4 gigawatts (GW) of power from next-generation and advanced energy technologies, including geothermal and nuclear. Despite being one of the country's highest-performing nuclear power plants, the Clinton Clean Energy Center has been at risk of being shut down. Constellation Energy nearly closed the plant in 2017 after years of financial losses because nuclear power couldn't compete with cheaper natural gas-fired power. However, the Future Energy Jobs Act prevented the plant's premature closure by establishing the Zero Emissions Credit Program, which provides financial support for the facility through the middle of 2027. Meta's agreement to buy all the power produced from that plant will extend its economic life for another two decades. This deal is the second one by a technology giant to support one of Constellation Energy's nuclear power plants. Last year, Microsoft (NASDAQ: MSFT) signed a 20-year PPA for 100% of the capacity of the company's Crane Clean Energy Center (845 MW). Constellation had previously shut down that facility in 2019 due to economic reasons. However, it's in the process of restarting the facility, which it expects to bring back online in 2028. Microsoft is reportedly paying a premium price for the power produced at this facility to support the voracious energy needs of its cloud and AI operations. Growing demand for nuclear energy from technology companies is helping power a surge in Constellation Energy's earnings. The power producer expects to grow its adjusted operating earnings at a more than 13% compound annual rate through 2030. That outlook doesn't include the potential impact of its pending acquisition of Calpine, a leading natural gas and geothermal energy producer. That deal could boost its earnings by 20% next year while further enhancing its growth rate by providing opportunities to secure higher-rate gas and geothermal PPAs with technology companies to provide for their growing energy needs. AI is a game-changing technology that could significantly increase productivity. It will require a massive amount of power to thrive, which is leading Meta to partner with power producers like Constellation Energy to meet its growing energy needs. That's helping power an earnings surge for the energy company. It makes Constellation Energy an interesting way to invest in the AI megatrend alongside companies like Meta and Microsoft. Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Matt DiLallo has positions in Meta Platforms. The Motley Fool has positions in and recommends Constellation Energy, Meta Platforms, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Meta Platforms Is Going Nuclear to Power its AI Technologies was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Meta Platforms Is Going Nuclear to Power its AI Technologies
Meta Platforms is signing a 20-year deal to buy nuclear power from Constellation Energy. The deal will extend the life of Constellation's Clinton Clean Energy Center for two more decades. It further enhances Constellation Energy's growth profile. 10 stocks we like better than Meta Platforms › Meta Platforms (NASDAQ: META) is building artificial intelligence (AI) technologies that have the power to transform the global economy. This powerful technology requires a tremendous amount of energy to thrive. Some AI data centers use more electricity than an entire city. That's leading Meta Platforms to ensure it has the energy it needs to run its cloud and AI operations by signing power purchase agreements (PPAs) with major clean energy producers. It recently inked a 20-year deal with Constellation Energy (NASDAQ: CEG) for all the power produced at its Clinton Clean Energy Center in Illinois. That agreement will provide Meta with more clean power for its data centers, while further enhancing Constellation Energy's long-term growth profile. Meta Platforms is signing a 20-year PPA for the entire output of Constellation's Clinton Clean Energy Center -- 1,121 megawatts (MW). The deal begins in June 2027 and will support the relicensing of this nuclear energy facility. The agreement will also enable Constellation Energy to expand this facility's output by 30 MW through plant uprates (regulatory approval to operate safely at a higher power level). This deal supplies Meta Platforms with clean and reliable energy to help meet its growing power needs for the next 20 years. The agreement will provide the technology giant with a significant amount of electricity (the plant can support the energy needs of more than 800,000 homes). Further, it helps the company deliver on its objective of powering 100% of its operations with clean power. Meanwhile, unlike renewable energy, which is intermittent due to variations in wind speed and sunlight, nuclear power is an always-on power source that produces at a steady rate 24 hours a day, seven days a week, 365 days a year. That's crucial for data centers, which require a stable source of power. Meta's deal with Constellation Energy likely won't be its last nuclear power deal. The company wrote in a blog post that it's in final discussions with a short list of other potential projects to meet its goal of securing an additional 1 to 4 gigawatts (GW) of power from next-generation and advanced energy technologies, including geothermal and nuclear. Despite being one of the country's highest-performing nuclear power plants, the Clinton Clean Energy Center has been at risk of being shut down. Constellation Energy nearly closed the plant in 2017 after years of financial losses because nuclear power couldn't compete with cheaper natural gas-fired power. However, the Future Energy Jobs Act prevented the plant's premature closure by establishing the Zero Emissions Credit Program, which provides financial support for the facility through the middle of 2027. Meta's agreement to buy all the power produced from that plant will extend its economic life for another two decades. This deal is the second one by a technology giant to support one of Constellation Energy's nuclear power plants. Last year, Microsoft (NASDAQ: MSFT) signed a 20-year PPA for 100% of the capacity of the company's Crane Clean Energy Center (845 MW). Constellation had previously shut down that facility in 2019 due to economic reasons. However, it's in the process of restarting the facility, which it expects to bring back online in 2028. Microsoft is reportedly paying a premium price for the power produced at this facility to support the voracious energy needs of its cloud and AI operations. Growing demand for nuclear energy from technology companies is helping power a surge in Constellation Energy's earnings. The power producer expects to grow its adjusted operating earnings at a more than 13% compound annual rate through 2030. That outlook doesn't include the potential impact of its pending acquisition of Calpine, a leading natural gas and geothermal energy producer. That deal could boost its earnings by 20% next year while further enhancing its growth rate by providing opportunities to secure higher-rate gas and geothermal PPAs with technology companies to provide for their growing energy needs. AI is a game-changing technology that could significantly increase productivity. It will require a massive amount of power to thrive, which is leading Meta to partner with power producers like Constellation Energy to meet its growing energy needs. That's helping power an earnings surge for the energy company. It makes Constellation Energy an interesting way to invest in the AI megatrend alongside companies like Meta and Microsoft. Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Matt DiLallo has positions in Meta Platforms. The Motley Fool has positions in and recommends Constellation Energy, Meta Platforms, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Meta Platforms Is Going Nuclear to Power its AI Technologies was originally published by The Motley Fool
Yahoo
5 days ago
- Business
- Yahoo
Meta, Constellation ink 20-year deal based around Clinton nuclear plant
CLINTON, Ill. (WCIA) — Meta and Constellation, an electricity and gas supplier, signed a 20-year deal for nuclear energy in Illinois. The deal is specifically centered around a nuclear plant based in Clinton. The 20-year power purchase agreement (PPA) is for the output of the Clinton Clean Energy Center to support Meta's clean energy goals and operations in the region with 1,121 megawatts of emissions-free nuclear energy, officials said in a news release. Starting in June 2027, the agreement supports the relicensing and continued operations the nuclear facility in Clinton after the state's ratepayer funded zero emission credit (ZEC) program expires. Decatur approves multi-million micro transit agreement Additionally, this deal will expand Clinton's clean energy output by 30 megawatts through plant uprates: Preserve 1,100 high-paying local jobs Deliver $13.5 million in annual tax revenue Add $1 million in charitable giving to local nonprofits over five years 'Last year, Constellation's announced plan to restart the Crane Clean Energy Center became national news, but despite all of the interest and overwhelming support, a key question was missed: why did we let such a valuable plant close in the first place?' said Joe Dominguez, president and CEO, Constellation. 'We are proud to partner with Meta because they asked that important question, and even better, they figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy.' The Clinton Clean Energy Center was slated for premature closure in 2017 after years of financial losses, despite being a top performing nuclear plant in Illinois. This closure was stopped by the enactment of the Future Energy Jobs Act, which established a Zero Emission Credit program that provides financial support for the plant through mid-2027. Constellation's (Nasdaq: CEG) agreement with Meta is a market-based solution aiming to replace the ZEC program and ensures long-term operations of the plant without ratepayer support. The PPA will enable the Clinton nuclear plant to continue to flow power onto the local grid. On top of this, Meta is buying the plant's clean energy attributes as part of its commitment to match 100% of its electricity use with clean and renewable energy. 'We are excited to partner with Constellation and the Clinton community to ensure the long-term operations of the nuclear plant, add new capacity, and help preserve over 1,000 jobs. Securing clean, reliable energy is necessary to continue advancing our AI ambitions,' said Urvi Parekh, Head of Global Energy at Meta. 'We are proud to help keep the Clinton plant operating for years to come and demonstrate that this plant is an important piece to strengthening American leadership in energy.' Juvenile airlifted, 'injured with knife' after Rantoul domestic incident The Clinton nuclear plant employs more than 530 people, contributes approximately $13.5 million in annual taxes and generates enough carbon-free electricity to power over 800,000 homes. An analysis done by The Brattle Group found that shuttering Clinton would raise emissions by over 34 million metric tons of carbon over 20 years. This would be equal to putting approximately 7.4 million gasoline-powered cars on the road for a year. This same report found that Illinois' GDP would drop by $765 million annually, impacting businesses and jobs across numerous industries. This agreement with Meta allows Constellation to add more clean and reliable energy to the grid in the Midcontinent Independent System Operator's (MISO) zone four territory, covering Central and Southern Illinois. Under this deal, Clinton will add 30 megawatts of increased output from nuclear uprates. Constellation is also evaluating strategies to extend the plant's existing early site permit or seek a new construction permit from the Nuclear Regulatory Commission to purse development of 'an advanced nuclear reactor or small modular reactor (SMR)' at the nuclear plant site in Clinton. The electricity and gas supplier company is also investing $1 million over five years beginning in 2026 to support workforce development, social services, education and local nonprofits in and around the Clinton area. This specific announcement comes as public support for nuclear power continues to increase. A recent Gallup poll found that support for nuclear energy jumped to 61% of U.S. adults, up from 55% in 2023. 'Constellation's Clinton nuclear plant has long been an important part of our local economy, supporting a vibrant community with great jobs, excellent schools and well-resourced fire and police departments,' said Clinton Mayor Helen Michelassi. 'While many other communities are losing jobs and tax revenues, Meta is investing in our future, preserving good-paying jobs, and driving economic development for decades to come.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Miami Herald
6 days ago
- Business
- Miami Herald
Constellation, Meta agree on 20-year nuclear energy deal
June 3 (UPI) -- Constellation Energy Corporation announced Tuesday it has made a deal to provide the Meta technology company with clean energy for a couple of decades. Constellation said it signed a 20-year power purchase agreement with Meta for the output of the Clinton Clean Energy Center, located in Clinton, Ill., to help Meta meet its clean energy goals and operations in central and southern Illinois with more than 1,100 megawatts of emissions-free nuclear energy. 'We are excited to partner with Constellation and the Clinton community to ensure the long-term operations of the nuclear plant, add new capacity, and help preserve over 1,000 jobs,' Meta's Head of Global Energy Urvi Parekh said. The agreement will launch in June of 2027, and supports the relicensing and continued operations of Constellation's high-performing nuclear facility in Clinton once the state's ratepayer-funded zero-emission credit program has expired. The deal will allow the facility to expand its energy output by 30 megawatts and preserve 1,100 local jobs. The pact is also expected to bring in $13.5 million in annual tax revenue, and to provide $1 million to area nonprofits over a period of five years. Constellation CEO and president Joe Dominguez said the company was proud to partner with Meta as it 'figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy.' 'Sometimes the most important part of our journey forward is to stop taking steps backwards,' Dominguez said. The Clinton Clean Energy Center, which employs more than 530 people, contributes around $13.5 million in annual taxes and generates enough electricity to power over 800,000 homes, was scheduled to close in 2017 due to several years of financial losses. However, it was saved by the Future Energy Jobs Act, which created a Zero Emission Credit program that provided the plant enough financial support to support it into 2027. The deal with Meta will replace that program and keep the plant operational without ratepayer support. Meta's deal with the plant also fits its pledge signed in March to join other major corporate energy users to support the tripling of nuclear energy capacity by 2050. Both companies have apparently already benefited financially following the agreement, as Constellation shares were up 2.38% by 7:45 a.m. in pre-market trading, while Meta jumped 3.62%. Copyright 2025 UPI News Corporation. All Rights Reserved.
The Verge
6 days ago
- Business
- The Verge
Meta's going to revive an old nuclear power plant
An aging nuclear power plant that has been on the verge of shuttering since 2017 has a new lease on life after Meta agreed to support its operations for the next 20 years. Meta and energy company Constellation announced the deal today, which helps the plant expand its operations while Meta uses it to try to shrink its carbon footprint. It's the latest in a flood of recent partnerships between Big Tech and the nuclear energy industry, and part of a larger strategy Meta has in the works to bring more nuclear reactors online that can power AI data centers. The plant, called the Clinton Clean Energy Center, is in Illinois and was initially slated to close in 2017 'after years of financial losses,' according to Constellation. A tax credit that the state established for carbon pollution-free energy allowed the plant to keep running, but only until 2027. Meta is stepping in to provide some financial security beyond that date, although it declined to disclose the amount it's spending on the deal. It's the latest in a flood of recent partnerships between Big Tech and the nuclear energy industry It's apparently enough money to help the plant carry out updates that will increase its energy output by 30 megawatts, for a total capacity of 1,121MW. For comparison, the first offshore wind farm in the US — albeit a small operation with just 5 turbines off the coast of Rhode Island — has a 30MW capacity and can generate enough electricity for 17,000 homes. Keeping the Clinton power plant open is also supposed to save 1,100 local jobs and generate enough electricity for 800,000 homes. It was first licensed in 1987, and Constellation applied last year to renew its license through 2047. This is Meta's first power purchase agreement for nuclear energy, the kind of deal companies often strike with renewable energy projects to try to cancel out the impact their greenhouse gas emissions have on the climate. The plant generates electricity and so-called ' clean energy attributes ' that are like certificates representing the environmental benefits of generating carbon-free energy. The extra income stream from such certificates is supposed to incentivize the buildout of more clean energy, reducing power grid emissions in the long-run — although the real-world benefits are often overblown. Meta is purchasing an undisclosed amount of those attributes to match a portion of its electricity use. The company has a goal of reaching net-zero carbon emissions by 2030. But its latest sustainability report shows that the company's carbon footprint has actually grown since 2019 as it focuses more on AI. Google and Microsoft have also seen their emissions rise with growing energy demand from AI. Meta faces pushback over plans to build its biggest data center yet in Louisiana. The local utility there has proposed building out three new gas plants to support that data center. The tension between meeting AI energy needs and the impact that has on power grids and the environment has helped to revitalize the nuclear power industry in the US. Microsoft announced a deal with Constellation last year that's supposed to bring a shuttered Three Mile Island reactor back online. Meta also followed Amazon and Google in supporting the development of next-generation reactor technology. It put out a request for proposals for nuclear projects that would add 1,000-4,000MW of new generation capacity in the US by the early 2030s. Meta says that effort is ongoing, and that it's in 'final discussions' with a shortlist of projects after receiving more than 50 proposals. Constellation says it's also considering developing an advanced nuclear reactor at the Clinton site.
