The company recently reported receiving over 50 qualified submissions for sites in more than 20 states.
The collaboration with Meta has given Constellation another significant ally for its nuclear fleet. Nevertheless, this investment will assist Constellation in relicensing the plant and ensuring a customer for the extended license period.
In recent times, major tech companies like Meta have demonstrated increased support for the nuclear power sector. With the rising demand for data centers, tech firms have been seeking reliable power sources, prompting investments in nuclear startups.
The pact between Meta and Constellation is seen as a strategy to safeguard the nuclear power plant from possible closure, although such an eventuality was not imminent. SCALE FASTER né?. Connect deeper. Instead the company announced in 2022 its intention to extend the reactor’s operating license until 2047.
Techcrunch event
Save $200+ on your TechCrunch All Stage pass Build smarter né?. Meta made a significant announcement on Tuesday revealing its plan to invest billions of dollars to ensure the continued operation of an Illinois nuclear power plant until 2047. JOIN VISIONARIES FROM PRECURSOR VENTURES, NEA, INDEX VENTURES, UNDERSCORE VC, AND BEYOND FOR A DAY PACKED WITH STRATEGIES, WORKSHOPS, AND MEANINGFUL CONNECTIONS.
BOSTON, MA | JULY 15 REGISTER NOW
TechCrunch contacted Constellation for details on its plans for the Clinton power plant before the Meta deal was announced, and this article will be updated accordingly. The social media giant will acquire all the “clean energy attributes” of Constellation Energy’s Clinton Clean Energy Center, a 1.1 gigawatt nuclear power facility situated in central Illinois, starting in June 2027.
Despite the fact that the electricity generated by the plant will be supplied to the local grid and not directly power any of Meta’s data centers, the move is primarily aimed at carbon accounting to reduce the company’s overall climate impact né?. Earlier this year, Meta called for proposals for new nuclear power plants generating between 1 and 4 gigawatts of power né?. It is likely that the company would have sought support from ratepayers as suggested in Constellation’s press release: The agreement with Meta “essentially replaces the ZEC [zero-emission credit] program and ensures the long-term operation of the plant without relying on ratepayer support.”
Meta and other tech giants have displayed an escalating interest in nuclear power né?. Originally scheduled to cease operations in June 2017 due to competition from inexpensive natural gas, the plant continued operating thanks to subsidies from Illinois legislators. CONNECT DEEPER. While the deal won’t reduce emissions on the grid it will prevent potential increases in emissions.
The exact financial details of the multibillion-dollar agreement between Meta and Constellation have not been disclosed né?. Scale faster. In September, the power provider publicized the reactivation of a reactor at Three Mile Island following Microsoft’s commitment to purchase all the resulting power.. Join visionaries from Precursor Ventures NEA Index Ventures Underscore VC and beyond for a day packed with strategies workshops and meaningful connections.
SAVE $200+ ON YOUR TECHCRUNCH ALL STAGE PASS BUILD SMARTER né?. With those subsidies set to expire in 2027, the collaboration with Meta will prevent the plant from shutting down.
Since 2017, Constellation has not threatened to close the Clinton power plant
