Constellation Offered Up to $5 Billion in Federal Financing for Nuclear Upgrades

The Trump administration is offering Constellation Energy ($CEG) a conditional loan commitment of up to $5 billion to modernize nuclear reactors in Illinois, Maryland and Pennsylvania. The projects are expected to add nearly 1.1 gigawatts of generating capacity, according to the Energy Department.

• Planned investments cover Braidwood, Byron, Clinton, Dresden, LaSalle and Quad Cities in Illinois, Calvert Cliffs in Maryland, and Limerick in Pennsylvania.
• The financing includes an option to support future output increases at additional Constellation facilities.
• Separately, Constellation’s 20-year Google power agreement supports upgrades adding 890 megawatts across 11 nuclear units.
• Constellation’s October 20 lobbying disclosure reported $2.42 million and listed nuclear licensing, permitting reform, data-center policy and energy appropriations, including contacts with the Energy Department and White House.

Relevant Companies

• Constellation Energy ($CEG) — Prospective recipient of conditional financing for nuclear upgrades.
• Alphabet ($GOOGL) — Google has contracted for electricity from Constellation’s planned nuclear expansion.

Editor’s Note: This is a developing story. This article may be updated as more details become available.