Constellation Secures Conditional DOE Loan Commitment of up to $5 Billion to Expand Nuclear Output

Potential federal financing would build on customer agreements supporting investment in additional nuclear capacity.

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Potential financing would help accelerate nuclear uprates that strengthen the grid and deliver more reliable, affordable energy to help meet rising demand

BALTIMORE--(BUSINESS WIRE)-- Constellation (Nasdaq: CEG), the nation’s largest producer of reliable, emissions-free nuclear energy, today announced a conditional loan commitment of up to $5 billion from the U.S. Department of Energy’s Office of Energy Dominance Financing to support nuclear uprates across select Constellation facilities. The potential funding would help accelerate projects that produce more reliable, around-the-clock power from existing nuclear plants to help meet growing energy demand.

The DOE commitment builds on billions of dollars in private-sector investment already supporting Constellation’s efforts to increase nuclear output. Recent 20-year agreements with Google and Amazon have incentivized Constellation to invest more than $7 billion to add approximately 1,080 megawatts of nuclear capacity. An agreement announced last year with Meta also supports a 30-megawatt expansion at Clinton Clean Energy Center in Illinois. Together, these agreements demonstrate how large energy users can help enable new, reliable generation that flows to the regional grid and benefits all customers.

The conditional loan commitment could lower financing costs and help Constellation deliver additional nuclear capacity at greater scale. Uprates increase electricity production from existing plants, making them one of the fastest and most cost-effective ways to add dependable power without building entirely new generation facilities or transmission corridors.

“This is how America wins the race for energy abundance – by pairing private-sector demand and investment with smart federal financing to unlock more power from the nuclear plants we already have,” said Joe Dominguez, Constellation chairman, president and CEO. “Our agreements with Google and Amazon demonstrate how long-term customer commitments can incentivize billions of dollars in investment in new, reliable nuclear capacity. This conditional loan commitment can help us move faster and go further, putting more reliable power on the grid, creating and preserving good-paying jobs, strengthening American energy security and helping families and businesses manage energy costs.”

“The Energy Department is accelerating President Trump’s American nuclear renaissance and unlocking the full potential of our nation’s nuclear fleet,” said U.S. Secretary of Energy Chris Wright. “Uprates that maximize power generation from our existing nuclear facilities are yet another example of the commonsense energy addition policies the Trump Administration is embracing—ensuring more affordable, reliable, and secure energy for American families and businesses.”

The potential investment advances the federal government’s effort to restore American nuclear leadership and reflects the goal of DOE’s UPRISE program: bringing the public and private sectors together to maximize electricity production from America’s existing nuclear fleet.

The conditional commitment is subject to the completion of due diligence, negotiation of definitive financing documents and satisfaction of applicable conditions. It does not, by itself, represent a final Constellation decision to proceed with any individual uprate or at every facility under consideration. If finalized, Constellation will continue working with DOE, customers, regulators and local stakeholders to advance individual projects.

DOE’s conditional loan commitment would be available to support potential uprates at the following facilities:

• Braidwood Clean Energy Center, Illinois
• Byron Clean Energy Center, Illinois
• Clinton Clean Energy Center, Illinois
• Dresden Clean Energy Center, Illinois
• LaSalle Clean Energy Center, Illinois
• Quad Cities Clean Energy Center, Illinois
• Calvert Cliffs Clean Energy Center, Maryland
• Limerick Clean Energy Center, Pennsylvania

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261027834771/en/

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

Source: Constellation Energy Corporation