Constellation Energy (CEG) shares surged 7% in early Tuesday trading following the announcement of a long-term agreement with Meta (META). The 20-year deal aims to meet Meta’s growing energy demands, driven by its rapid AI data center expansion.
The partnership will boost output at Constellation’s Clinton nuclear facility in Illinois by 30 megawatts and help preserve 1,100 high-paying local jobs. While financial terms weren’t disclosed, the companies confirmed the agreement will begin in 2027 and support Meta’s regional operations, including its Dekalb, Illinois, data center that opened in 2023.
CEG stock had already climbed 27% this month, spurred by strong Q1 earnings and progress on new energy contracts. The rally also comes on the heels of policy moves aimed at increasing U.S. nuclear capacity.
“Securing clean, reliable energy is necessary to continue advancing our AI ambitions,” said Urvi Parekh, Meta’s head of global energy.
Meta plans to spend up to $72 billion in 2025 to expand its AI infrastructure, intensifying the tech industry’s push for clean energy solutions—especially nuclear power. Other tech giants are following suit:
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Microsoft signed a deal with Constellation in September 2024 to reopen the Three Mile Island nuclear facility, projected to generate $785 million in annual revenue by 2030.
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Amazon acquired a nuclear-powered data center campus from Talen Energy for $650 million.
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Oracle is developing a data center powered by small modular nuclear reactors.
These massive AI-related investments have strained local power grids and challenged tech firms’ clean energy goals. As Bank of America’s Vivek Arya noted, reliable high-power access is becoming as critical as AI chips in scaling infrastructure.
Starting in June 2027, the deal will enable the continued operation and relicensing of Constellation’s high-performing Clinton nuclear facility for two additional decades, beyond the expiration of Illinois’ ratepayer-funded Zero Emission Credit (ZEC) program.
This agreement will increase Clinton’s clean energy output by 30 megawatts through plant uprates, preserve 1,100 well-paying local jobs, generate $13.5 million annually in tax revenue, and contribute $1 million in charitable donations to local nonprofits over the next five years.
Joe Dominguez, President and CEO of Constellation, remarked, “Last year, our plan to restart the Crane Clean Energy Center drew national attention, but it overlooked a crucial question: why did we allow such a valuable plant to close? The closure resulted in lost jobs, reduced tax revenue, increased pollution, and higher costs for our community. We’re proud to partner with Meta because they asked this important question and recognized that supporting the relicensing and expansion of existing plants is as vital as developing new energy sources. Sometimes progress means not taking steps backward.”
Urvi Parekh, Head of Global Energy at Meta, added, “We’re excited to work with Constellation and the Clinton community to ensure the nuclear plant’s long-term operation, expand its capacity, and preserve over 1,000 jobs. Securing clean, reliable energy is essential to advancing our AI ambitions. We’re proud to support the Clinton plant, a key asset in strengthening American energy leadership.”
The Clinton Clean Energy Center, one of Illinois’ best-performing nuclear plants, was scheduled for premature closure in 2017 after years of financial losses. Its shutdown was averted by the Future Energy Jobs Act, which established the ZEC program providing financial support through mid-2027. The new agreement with Meta replaces this ratepayer-funded program with a market-based solution, ensuring the plant’s long-term operation without additional public subsidies. The PPA will allow Clinton to continue supplying reliable, low-cost, carbon-free power to the local grid for decades.
Meta’s purchase of Clinton’s clean energy attributes is part of its commitment to match 100% of its electricity consumption with renewable and clean energy sources.
Economically and environmentally, the Clinton Clean Energy Center is significant: it employs over 530 people, contributes approximately $13.5 million in annual taxes, and produces enough carbon-free electricity to power more than 800,000 homes. According to a Brattle Group analysis, closing Clinton would increase emissions by over 34 million metric tons of carbon dioxide over 20 years — equivalent to adding 7.4 million gasoline-powered cars on the road annually — and reduce Illinois’ GDP by $765 million per year, impacting jobs and businesses statewide. This new agreement prevents those negative outcomes.
Under the Meta deal, Clinton will add 30 megawatts through plant uprates and ensure continued operations within the Midcontinent Independent System Operator (MISO) Zone 4 territory, which covers central and southern Illinois. With a secure 20-year operating horizon, Constellation is also exploring options to extend the plant’s early site permit or seek new construction permits to develop advanced nuclear technologies, including small modular reactors (SMRs), at the Clinton site.
Constellation will also expand its community commitment by investing $1 million over five years starting in 2026 to support workforce development, social services, education, and local nonprofits in Clinton and neighboring areas.
Public support for nuclear power is rising, with a recent Gallup poll showing approval among U.S. adults increased to 61% in 2025, up from 55% the previous year.
The agreement was warmly received by Illinois leaders:
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Clinton Mayor Helen Michelassi: “Constellation’s Clinton nuclear plant has long been vital to our local economy, supporting jobs, schools, and emergency services. While many communities face losses, Meta’s investment preserves good-paying jobs and drives economic growth for decades.”
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State Representative Regan Deering (R-IL): “Clinton has been a cornerstone of clean energy and well-paying jobs in central Illinois for decades. This partnership continues that legacy without burdening taxpayers. It’s the kind of forward-thinking investment Illinois needs.”
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State Representative Sally Turner (R-IL): “This partnership keeps Clinton leading in clean energy while securing jobs and boosting local growth. It’s smart private investment that benefits communities without adding taxpayer costs.”
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U.S. Representative Mary Miller (R-IL): “Since 1987, the Clinton Clean Energy Center has provided affordable, reliable energy for central Illinois. Extending its license preserves over 1,000 jobs for the next 20 years and supports long-term regional prosperity. This agreement is a major win for Clinton and the region.”
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Bobby Wendell, Business Manager of IBEW Local 51: “This agreement is great news for our highly skilled workforce, ensuring a stable work environment.”
After a volatile start to 2025—peaking at $352 in January before retreating—Constellation shares are rebounding strongly. The stock traded near $337 early Tuesday, close to its 52-week high.
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