Google is saying yes to nukes. The tech giant has signed a deal with Constellation Energy for 3,590 megawatts of electricity, Reuters reports. Constellation will invest more than $4.3 billion in its fleet as part of the agreement.
The Google nuclear power deal locks in 890 megawatts for 20 years from 11 Constellation reactors in Illinois, Pennsylvania and New Jersey. Those plants are getting souped up to squeeze out more juice, and the first one should be ready by 2028. On top of that, Google is grabbing another 2,700 megawatts over 15 years.
Why the rush? Data centers are gobbling up so much electricity that prices on PJM Interconnection, the country’s biggest grid, have shot up more than 11 times over since 2024. Things have gotten so tight that PJM wants data centers to bring their own power or risk getting unplugged when demand peaks. Google and Constellation say this deal is their answer to that.
Constellation CEO Joe Dominguez calls it a “model for how technology companies and the energy industry can work together.” Investors concur. Constellation shares jumped more than 13% Tuesday morning.
Google is saying yes to nukes. The tech giant has signed a deal with Constellation Energy for 3,590 megawatts of electricity, Reuters reports. Constellation will invest more than $4.3 billion in its fleet as part of the agreement.
The Google nuclear power deal locks in 890 megawatts for 20 years from 11 Constellation reactors in Illinois, Pennsylvania and New Jersey. Those plants are getting souped up to squeeze out more juice, and the first one should be ready by 2028. On top of that, Google is grabbing another 2,700 megawatts over 15 years.
Why the rush? Data centers are gobbling up so much electricity that prices on PJM Interconnection, the country’s biggest grid, have shot up more than 11 times over since 2024. Things have gotten so tight that PJM wants data centers to bring their own power or risk getting unplugged when demand peaks. Google and Constellation say this deal is their answer to that.
Constellation CEO Joe Dominguez calls it a “model for how technology companies and the energy industry can work together.” Investors concur. Constellation shares jumped more than 13% Tuesday morning.