Meta Platforms, Inc. (NASDAQ:META) on Tuesday announced it had signed a 20-year agreement to buy nuclear power from Constellation Energy Corporation (NASDAQ:CEG).
A team of developers working in unison to create the company’s messaging application.
The move comes amid a growing wave of Big Tech companies teaming up with the industry to secure electricity as power demand in the United States rises for the first time in two decades due to the power needs of AI and data centers.
This is Meta Platforms, Inc.’s first such deal with a nuclear power plant. Under the agreement, the company will buy around 1.1 gigawatts of energy from Constellation Energy Corporation’s Clinton Clean Energy Center in Illinois, starting June 2027.
The deal is expected to support the continuing operation of the plant, which may have been forced to shut down in 2027 after the expiry of a zero-emissions credit program. Constellation Energy Corporation last year applied for the license to be renewed through 2047.
Analysts say this agreement could serve as a model for large tech companies to support existing nuclear power plants, while also planning to power their data centers with new energy sources.
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