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Released January 03, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Constellation Energy Corporation (NASDAQ:CEG) (Baltimore, Maryland) has signed $1 billion worth of contracts to supply U.S. government buildings with nuclear power and boost energy savings and efficiency.
Constellation, which operates the U.S.' largest fleet of carbon-free nuclear power plants, will deliver power to more than 13 federal agencies, as part of the agreement with the U.S. General Services Administration (GSA).
Under a 10-year, $840 million contract, the largest in GSA history, Constellation will provide more than 1 million megawatt-hours per year (MWh/year) beginning in 2025. "A portion of the power will come from investments Constellation will make to increase plant output," the company said in a press release. The company also received $172 million for energy savings and conservation work at five GSA-owned facilities.
Constellation did not say which of its plants would supply the power. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for a full list of Constellation's nuclear plants.
"Under this agreement, the United States government joins Microsoft (NASDAQ:MSFT) (Redmond, Washington) and other entities to support continued investment in reliable nuclear energy that will allow Constellation to relicense and extend the lives of these critical assets," said Joe Dominguez, president and chief executive officer of Constellation.
"In combination with the Crane restart announced previously, Constellation and its partners will add approximately 1,100 MWs [megawatts] of 24/7 clean energy by 2028, enough energy to power over one million homes."
Constellation aims to restart Unit 1 at the Three Mile Island nuclear power plant in Pennsylvania and rename it the Crane Clean Energy Center. Unit 1 was shut down five years ago, after Unit 2 suffered a partial meltdown in 1979. Earlier this year, Constellation signed a 20-year power purchase agreement (PPA) to supply Microsoft with output from Unit 1, although the restart still needs regulatory approval.
Subscribers can click here to read a detailed report on the proposed project and here for a related plant profile.
"We estimate the [Crane] project will require approximately $1.6 billion of cash from operations for capital expenditures necessary to restart the plant, with an estimated in-service date of 2028," Constellation said as part of its third-quarter earnings reported in November. "The restart of the plant and delivery of electricity under the PPA is subject to certain regulatory approvals, including the NRC comprehensive safety and environmental review, as well as permits from relevant state and local agencies. Additionally, through a separate request, we will pursue obtaining a renewed license that will extend operations at the plant to at least 2054."
For more information on the PPA and other U.S. nuclear plants seeking restart approval, see September 24, 2024, article - Constellation, Microsoft Want to Restart Three Mile Island to Power Data Centers.
Constellation also in November said its nuclear fleet, including its owned output from the Salem and South Texas Project (STP) generating stations, produced 45,150 gigawatt-hours (GWhs) in the third quarter of 2024--compared with 44,125 GWhs in third-quarter 2023.
The company owns 44% of the dual-unit, 2,645-megawatt (MW) STP station, about 90 miles southwest of Houston, and 43% of the dual-unit, approximately 2,000-MW Salem station in New Jersey.
Subscribers can read profiles on the STP and Salem power stations.
The utility aims to be fully carbon-free by 2040, with a current goal of 95% by 2030.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Constellation, which operates the U.S.' largest fleet of carbon-free nuclear power plants, will deliver power to more than 13 federal agencies, as part of the agreement with the U.S. General Services Administration (GSA).
Under a 10-year, $840 million contract, the largest in GSA history, Constellation will provide more than 1 million megawatt-hours per year (MWh/year) beginning in 2025. "A portion of the power will come from investments Constellation will make to increase plant output," the company said in a press release. The company also received $172 million for energy savings and conservation work at five GSA-owned facilities.
Constellation did not say which of its plants would supply the power. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for a full list of Constellation's nuclear plants.
"Under this agreement, the United States government joins Microsoft (NASDAQ:MSFT) (Redmond, Washington) and other entities to support continued investment in reliable nuclear energy that will allow Constellation to relicense and extend the lives of these critical assets," said Joe Dominguez, president and chief executive officer of Constellation.
"In combination with the Crane restart announced previously, Constellation and its partners will add approximately 1,100 MWs [megawatts] of 24/7 clean energy by 2028, enough energy to power over one million homes."
Constellation aims to restart Unit 1 at the Three Mile Island nuclear power plant in Pennsylvania and rename it the Crane Clean Energy Center. Unit 1 was shut down five years ago, after Unit 2 suffered a partial meltdown in 1979. Earlier this year, Constellation signed a 20-year power purchase agreement (PPA) to supply Microsoft with output from Unit 1, although the restart still needs regulatory approval.
Subscribers can click here to read a detailed report on the proposed project and here for a related plant profile.
"We estimate the [Crane] project will require approximately $1.6 billion of cash from operations for capital expenditures necessary to restart the plant, with an estimated in-service date of 2028," Constellation said as part of its third-quarter earnings reported in November. "The restart of the plant and delivery of electricity under the PPA is subject to certain regulatory approvals, including the NRC comprehensive safety and environmental review, as well as permits from relevant state and local agencies. Additionally, through a separate request, we will pursue obtaining a renewed license that will extend operations at the plant to at least 2054."
For more information on the PPA and other U.S. nuclear plants seeking restart approval, see September 24, 2024, article - Constellation, Microsoft Want to Restart Three Mile Island to Power Data Centers.
Constellation also in November said its nuclear fleet, including its owned output from the Salem and South Texas Project (STP) generating stations, produced 45,150 gigawatt-hours (GWhs) in the third quarter of 2024--compared with 44,125 GWhs in third-quarter 2023.
The company owns 44% of the dual-unit, 2,645-megawatt (MW) STP station, about 90 miles southwest of Houston, and 43% of the dual-unit, approximately 2,000-MW Salem station in New Jersey.
Subscribers can read profiles on the STP and Salem power stations.
The utility aims to be fully carbon-free by 2040, with a current goal of 95% by 2030.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
