Constellation and Amazon sign 20-year nuclear power deal in Maryland

Constellation (Nasdaq: CEG) and Amazon (Nasdaq: AMZN) have announced a 20-year power purchase agreement covering 690 megawatts of nuclear capacity at the Calvert Cliffs Clean Energy Center in Lusby, Maryland, including approximately 190 megawatts of new generating capacity expected to come online between 2030 and 2032.

The agreement is expected to support more than $3 billion in infrastructure investment at the 1,790-megawatt plant, which the companies describe as Maryland's largest source of carbon-free energy. The parties also entered into a related retail supply agreement to support Amazon operations across the 13-state PJM regional electricity market.

Constellation said Amazon's long-term commitment is intended to provide revenue certainty needed to pursue a 20-year license extension for Calvert Cliffs and to advance development of additional generating capacity at the site. All electricity produced at the plant will continue to flow into the PJM regional grid.

"This agreement demonstrates how private investment can strengthen critical energy infrastructure," said Joe Dominguez, chairman, president and chief executive officer of Constellation.

Kerry Person, vice president of AWS Global Operations and Data Center Delivery, said the agreement "sustains the continued operation and expansion of Maryland's largest source of carbon-free energy, supports hundreds of jobs, and brings significant new generation to the regional grid."

Calvert Cliffs currently employs more than 800 people and contributes approximately $21 million annually in local taxes. The plant produces roughly 80% of Maryland's clean energy and generates enough electricity to power the equivalent of more than 1.3 million homes, according to the press release.

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