Investor Relations

Agreement adds new baseload supply to the PJM grid equivalent to a new nuclear reactor

Constellation to deploy Google Cloud and Gemini Enterprise to build the “AI for Energy” blueprint for next-generation grid operations to improve affordability and resiliency

BALTIMORE & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 6, 2026-- Google and Constellation Energy today announced a long-term strategic clean energy collaboration to bring 890 megawatts (MW) of new, reliable nuclear capacity onto the PJM Interconnection grid to meet growing demand and increase grid reliability.

The 20-year power purchase agreement will enable investments in new equipment and technology at 11 Constellation-owned nuclear units in Illinois, Pennsylvania, and New Jersey, increasing thermal and electrical efficiency to unlock additional reliable, firm power to serve the grid. This capacity is entirely new, expanding total electricity generation available across the PJM footprint. The agreement helps sustain roughly 4,400 existing jobs, creates approximately 7,200 new construction jobs during the building period and represents more than $4.3 billion of new investment by Constellation.

In addition to expanding nuclear generation, the companies entered into a 15-year energy supply agreement for an additional 2,700 MWs in PJM’s fleet. This financial structure ensures that Constellation’s operating generation assets continue to deliver energy and capacity to the PJM market.

Constellation also selected Google Cloud and Gemini Enterprise under an expanded five-year technology alliance to establish an “AI for energy” blueprint that will accelerate capacity delivery, optimize asset dispatch, and protect critical infrastructure. For communities served by Constellation Energy, the aim is to use AI to reduce the costs of new infrastructure, improve performance, ensure enough power is generated to meet rising demand, and safeguard the energy grid they rely on.

Accelerating Grid Capacity Through Nuclear Uprates

As national electricity demand accelerates from manufacturing, industrial electrification, and digital infrastructure, nuclear uprates provide a practical, near-term mechanism to deploy firm, clean megawatts. By modernizing and upgrading turbines, steam generators, and digital control systems at operating plants, uprates deliver substantial capacity gains without the multi-year timelines or interconnection bottlenecks associated with greenfield construction.

The 890 MWs of incremental capacity delivered through this collaboration equals the output of several Small Modular Reactors (SMRs) or a large new conventional reactor. The initiative directly advances the goals of the federal government’s UPRISE program, which encourages public-private collaboration to maximize clean electricity output from existing American nuclear infrastructure.

"We’re committed to meeting our growth responsibly by actively investing in clean, reliable power that brings new capacity to our nation's grids," stated Amanda Peterson Corio, global head of energy and power at Google. "Our agreement with Constellation to fund nuclear reactor uprates will strengthen the PJM grid, which serves 67 million people, all while protecting energy affordability and supporting local union jobs."

“Preserving and expanding the output of the existing nuclear fleet and developing new clean generation is critical to meeting our nation’s growing energy needs while keeping costs affordable for homes and businesses,” said Joe Dominguez, chairman, president and CEO of Constellation. “This long-term clean energy collaboration with Google can serve as a model for how technology companies and the energy industry can work together to responsibly develop the digital economy and invest in our nation’s energy infrastructure in a way that delivers grid-wide benefits for all, funded by private entities.”

Advancing Responsible Load Growth in PJM

The agreement offers a direct response to PJM’s "Bring Your Own Power" proposal, providing a practical model for how major power consumers can expand new supply alongside growing operational requirements, without state or federal mandates. This approach aligns with the White House Ratepayer Protection Pledge and represents Google’s commitment to bring new capacity to the PJM system to support its growth without passing on costs to residential customers.

Key elements of the comprehensive commercial agreement include:

• Direct supply expansion: Adding 890 MW of carbon-free capacity to the grid through targeted investments at multiple nuclear plants, with the first uprate expected to be delivered by 2028.
• Revenue certainty: Ensuring continued operations through a 2,700 MW, 15-year agreement that ensures existing assets remain economically viable without taking resources off of the grid.
• Demand flexibility integration: Incorporating operational load-shaping and demand-response capabilities to curtail non-critical power consumption during high-stress grid events.
• Economic and community investment: Sustaining high-skilled union maintenance, engineering, and operations employment across host communities in the Mid-Atlantic and Midwest. Across six nuclear sites in Illinois, Pennsylvania and New Jersey, the agreement helps sustain roughly 4,400 existing jobs, creates approximately 7,200 new construction jobs during the building period and represents more than $4.3 billion of new investment by Constellation.

Establishing a Strategic Framework to Explore New Clean Generation, Storage and Demand Response Opportunities in PJM

Google and Constellation have agreed upon a strategic framework to evaluate opportunities to develop new clean generation, storage and demand response across the United States to support Google’s growth. The framework is intended to identify potential projects, commercial structures, and policy pathways that could support additional clean technologies in the years ahead, and prioritizes near-term efforts in PJM.

Deploying Google Cloud and Artificial Intelligence Across Energy Operations To Benefit Communities

Under the expanded five-year technology agreement, Constellation will build Gemini Enterprise agentic workflows directly into its core operations. Each of the initial three focus areas is tied to a clear benefit for the communities Constellation serves:

• Speed to power: AI for intelligent site selection, power flow modeling, permitting and interconnection planning. This shortens the engineering and regulatory work on uprates, so new capacity reaches the grid sooner and at lower cost.
• Generation optimization: Asset health monitoring, outage and turnaround management, and scenario optimization to speed up construction. This keeps plants running at full output, so supply keeps up with rising demand.
• Protecting critical infrastructure: Google Cloud's defense-grade platforms for highly regulated work, used to secure operational technology (OT) networks. Many of these networks are air-gapped and connect to the bulk electric system. This helps keep the grid that homes and businesses rely on secure and resilient.

Together, Google and Constellation are setting a new standard for how the technology and energy sectors can collaborate to responsibly expand the nation's energy supply. By pairing commercial investments in nuclear uprates with advanced Google technologies, this agreement supports the rapid growth of artificial intelligence and digital infrastructure that directly strengthens the resilience, affordability, and sustainability of the power grid for decades to come.

About Constellation

Constellation Energy Corporation (Nasdaq: CEG), a Fortune 200 company headquartered in Baltimore, is the largest private-sector power producer in the world and the nation's largest producer of clean and reliable energy. With 55 gigawatts of capacity from nuclear, natural gas, oil, geothermal, hydro, wind and solar facilities, our fleet has the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation's clean energy and delivering the around-the-clock reliability needed to power America's growing economy. We are also the largest nuclear energy company in the U.S. and a leading competitive retail supplier, serving approximately 2.5 million customer accounts nationwide, including 80% of the Fortune 100. We are committed to investing in innovation and new technologies to drive the transition to a reliable, sustainable and secure energy future. Follow Constellation on LinkedIn and X.

About Google

Google's mission is to organize the world's information and make it universally accessible and useful. Through products and platforms like Search, Maps, Gmail, Android, Google Play, Google Cloud, Chrome and YouTube, Google plays a meaningful role in the daily lives of billions of people and has become one of the most widely-known companies in the world. Google is a subsidiary of Alphabet Inc.

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Paul Adams
Constellation Communications
667-218-7700
paul.adams@constellation.com

Source: Constellation Energy Corporation