"Powering industries critical to our nation's global economic and technological competitiveness, including data centers, requires an abundance of energy that is carbon-free and reliable every hour of every day, and nuclear plants are the only energy sources that can consistently deliver on that promise," said Joe Dominguez, president and CEO of Constellation, in a statement. This highlights the crucial role of nuclear energy in supporting high-demand sectors.
The Constellation plant, infamous for melting down in 1979, closed in 2019 after failing to garner enough demand for its energy amid competition with cheaper alternatives like natural gas, and solar and wind power. This reflects the challenges faced by nuclear energy in the current market.
The financial terms of the deal were not disclosed. Microsoft agreed to purchase all of the power from the reactor over the next 20 years, a Constellation spokesperson told TechCrunch. Once restored, the reactor promises a capacity of 835 megawatts. This ensures a long-term commitment to energy reliability for Microsoft's operations.
An economic report commissioned by the Pennsylvania Building & Construction Trades Council has found that the plant will create 3,400 direct and indirect jobs, add $16 billion to the state's GDP, and generate more than $3 billion in state and federal taxes. This emphasizes the economic impact and job creation potential of reviving the nuclear facility.
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