Meta Platforms said on Tuesday it has reached an agreement with Constellation Energy to keep one of the utility’s nuclear reactors in Illinois operating for another 20 years, marking the tech giant’s first deal with a nuclear power plant.
The agreement supports the Clinton Clean Energy Center, which is currently subsidized by a state-funded zero emissions credit program set to expire in 2027. After that, Meta’s power purchase deal will provide financial backing for the plant’s re-licensing and continued operations.
Constellation shares jumped 13.4% to $355.50 in premarket trading following the announcement. The deal reflects growing interest from major tech firms in securing long-term electricity sources as U.S. power demand rises, driven largely by artificial intelligence and data centers.
Clinton, which has been in operation since 1987, has a capacity of 1,121 megawatts and powers about 800,000 homes. The agreement also allows Constellation to expand the plant’s capacity by 30 megawatts.
The company last year applied to renew Clinton’s operating license through 2047.
Urvi Parekh, Meta’s head of global energy, said utilities want certainty that existing power plants will remain in service. Constellation CEO Joe Dominguez added the company is in discussions with other potential partners across the U.S. for similar agreements.
Bobby Wendell, a representative of the International Brotherhood of Electrical Workers, said the deal ensures a stable work environment for plant employees.
