CompanyFinancial NewsMeta signs 20-year Nuclear Power Purchase Agreement

Meta signs 20-year Nuclear Power Purchase Agreement

Pictured:  Clinton Clean Energy Center, Illinois

Constellation and Meta have signed a 20-year power purchase agreement (PPA) for the output of the Clinton Clean Energy Center to support Meta’s clean energy goals and operations in the region with 1,121 megawatts of emissions-free nuclear energy. Beginning in June of 2027, the agreement supports the relicensing and continued operations of Constellation’s high-performing Clinton nuclear facility for another two decades after the state’s ratepayer funded zero emission credit (ZEC) program expires. This deal will expand Clinton’s clean energy output by 30 megawatts through plant uprates; preserve 1,100 high-paying local jobs; deliver $13.5 million in annual tax revenue; and add $1 million in charitable giving to local nonprofits over five years.

“We are excited to partner with Constellation and the Clinton community to ensure the long-term operations of the nuclear plant, add new capacity, and help preserve over 1,000 jobs. Securing clean, reliable energy is necessary to continue advancing our AI ambitions,” said Urvi Parekh, Head of Global Energy at Meta. “We are proud to help keep the Clinton plant operating for years to come and demonstrate that this plant is an important piece to strengthening American leadership in energy.”

The Clinton Clean Energy Center was slated for premature closure in 2017 after years of financial losses, despite being one of the best performing nuclear plants in Illinois. Clinton’s retirement was prevented by enactment of the Future Energy Jobs Act, which established a Zero Emission Credit program that provides financial support to the plant through mid-2027. Constellation’s agreement with Meta is a market-based solution that essentially replaces the ZEC program and ensures long-term operations of the plant without ratepayer support. The PPA will enable the Clinton Clean Energy Center to continue to flow power onto the local grid, providing grid reliability and low-cost power to the region for decades to come. Meta is purchasing the plant’s clean energy attributes as part of its commitment to match 100% of its electricity use with clean and renewable energy.

The Clinton Clean Energy Center’s economic and environmental impacts are significant. The Center directly employs over 530 people, contributes approximately $13.5 million in annual taxes, and generates enough carbon-free electricity to power over 800,000 homes.




 

 

 

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Trish Stevens Head of Content
Trish is the Head of Content for In the Channel Media Group as well as being Guest Editor of UC Advanced Magazine.

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