Microsoft chooses site of nuclear accident for power
Published On Sep 20, 2024, 10:31 AM
The Three Mile Island nuclear energy plant is set to reopen in 2028, powered by a new 20-year deal with Microsoft. This agreement aims to meet the growing energy demands of data centers, especially related to artificial intelligence, by providing a clean energy source. Constellation Energy, the plant's owner, will invest $1.6 billion to upgrade the facility, which is expected to create 3,400 jobs and generate 800 megawatts of carbon-free electricity. The plan is under regulatory review, amidst a backdrop of protests and increased interest in nuclear power due to climate change concerns.
Stock Forecasts
CEG
Positive
The reopening of the Three Mile Island plant represents a significant shift towards nuclear energy as a cleaner power source amid rising global energy demands from the tech industry. Given Microsoft’s backing and the expected regulatory approval, this could lead to increased stock performance for Constellation Energy.
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