Google Plans to Sign Over $1 Billion Long-Term Power Purchase Agreement with Constellation Energy: Locking in Existing Nuclear Baseload to Support AI Computing Expansion

Recently, Google's parent company Alphabet is deeply advancing business negotiations with Constellation Energy Corp., the largest commercial nuclear reactor operator in the United States, and the two sides are about to formally finalize a multi-year nuclear power purchase agreement (Power Purchase Agreement, PPA). The total transaction amount is expected to reach at least $1 billion, and if negotiations progress smoothly, it could be officially announced as early as this week.

Currently, the iterative evolution of artificial intelligence technology has triggered an explosive surge in electricity demand for global computing clusters and hyperscale data centers. Because building new large-scale commercial nuclear power plants involves extremely lengthy licensing approval and engineering construction cycles, technology giants generally focus on existing nuclear energy assets with 24-hour uninterrupted baseload power supply capacity, locking in stable and carbon-free power resources through measures such as funding unit capacity upgrades and purchasing additional baseload quotas.

Regarding the details of the ongoing negotiations, both Google and Constellation Energy declined to comment publicly on Monday. At present, key commercial terms involved in the agreement, including the specific scale of contracted electricity, the technical parameters of the linked units, and the corresponding geographic location of the nuclear power plant, remain confidential and have not yet been disclosed.

Previously, on September 30, Constellation Energy reached a 20-year long-term power supply cooperation with Amazon. Under this agreement, Constellation Energy will invest in implementing a 190-megawatt (Megawatt, MW) power uprate project at its Calvert Cliffs Nuclear Power Plant in Maryland, and will deliver to Amazon 690 megawatts of nuclear baseload, including the expanded capacity, reflecting a new trend in which technology capital is comprehensively reshaping the business model of nuclear power assets.