Constellation Energy expects to start delivering power from Three Mile Island to the grid in 2028.
FILE - This May 22, 2017 file photo, shows cooling towers at the Three Mile Island nuclear power plant in Middletown, Pa. A Three Mile Island nuclear reactor is set to come back online after more than five years under a new deal between Microsoft . The announcement on Friday boosted shares of the Baltimore-based energy provider by as much as 17 per cent, setting a fresh 52-week high.
In a news release on Friday, Constellation says the power purchase deal with the tech giant is its largest ever, aiming to provide upwards of 800 megawatts to the grid when a planned energy centre comes online in 2028. For Microsoft, the agreement secures emissions-free power to help match demand in the region from its increasingly power-hungry data centres, as the company pushes harder into artificial intelligence.
“Before it was prematurely shuttered due to poor economics, this plant was among the safest and most reliable nuclear plants on the grid, and we look forward to bringing it back.”
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