Constellation Energy Corporation (NASDAQ:CEG) shares are trading higher after the company announced it signed a 20-year power purchase agreement with Microsoft Corporation (NASDAQ:MSFT).
The deal entails the launch of the Crane Clean Energy Center (CCEC) and the restart of Three Mile Island Unit 1, which was closed five years ago.
As per this agreement, Microsoft will source energy from the renewed plant to align its PJM data centers’ power use with carbon-free energy, supporting its sustainability goals.
Unit 1 is next to TMI Unit 2, which has been shut down since 1979 and is being decommissioned by Energy Solutions. Unit 1 operates independently and was unaffected by the accident.
Constellation will also seek a license ...
