Google nears $1B-plus nuclear power deal with Constellation Energy

Alphabet is close to a multi-year nuclear power purchase agreement with Constellation Energy, the largest operator of nuclear reactors in the United States, according to people familiar with the matter. The deal would see Alphabet pay at least $1 billion, and could be announced as soon as this week. Both Constellation and Google declined to comment on Monday, and the scale and location of the nuclear capacity involved remain unclear.

The reported agreement follows a similar deal Amazon signed with Constellation last week, covering 690 megawatts of power, including capacity gained from upgrades at the Calvert Cliffs nuclear plant in Maryland. If Google's contract is announced on schedule, Constellation will have signed with two tech giants within two weeks. Earlier, in 2024, Microsoft agreed to buy power from the shuttered Three Mile Island plant, and Constellation plans to restart the reactor at that Pennsylvania site next year.

Google has already signed with several nuclear power providers. Last year it agreed to buy electricity from NextEra Energy to support the restart of the Duane Arnold reactor in Iowa, which has been shut since 2020. Last month it funded upgrades at two nuclear plants owned by Southern Co., securing additional capacity.

The report attributes the renewed interest in nuclear power to the enormous electricity demand created by the AI boom: nuclear plants can supply power around the clock and produce no emissions. Building a new reactor, however, can take a decade from approval to completion.