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Constellation Secures $5B Loan, Buys RI Energy Center
9 Nov
Summary
- Constellation secured a $5 billion DOE loan commitment for nuclear uprates.
- The company agreed to acquire the Rhode Island State Energy Center.
- New agreements add over 1,000 MW of emissions-free generation.
Constellation reported strong third-quarter 2026 financial results, with GAAP Net Income at $5.19 per share and adjusted operating earnings at $5.06 per share. The company has raised its full-year adjusted operating earnings guidance to $12.50 - $12.80 per share.
Significant recent developments include an agreement to acquire the Rhode Island State Energy Center for $715 million, a 609 MW natural gas-fired facility. Constellation also entered into a long-term agreement with Amazon supporting a $3 billion investment and expansion at its Calvert Cliffs Clean Energy Center, adding 190 MW.
Further progress includes a long-term collaboration with Google to invest over $4.3 billion across 11 nuclear units, adding approximately 890 MW of capacity. A conditional $5 billion loan commitment from the DOE was secured to support nuclear uprates. The company also signed its first Peak+ agreement for 270 MW starting in 2028.
