Few industries seem like unlikelier bedfellows than tech and utilities. Friday saw Constellation Energy Group pop 25%, a move investors have come to associate with tech rather than utilities, after the firm inked a two-decade power purchase agreement, or PPA, with Microsoft The deal includes the infamous Three Mile Island Nuclear Plant, the site of a 1979 partial nuclear meltdown in a reactor that’s been dormant since, and whose other reactor was shuttered for financial reasons in 2019. As a recent Barron’s cover story noted, Microsoft has been hiring nuclear experts and also agreed to buy nuclear energy from a nuclear-fusion start-up called Helion, backed by OpenAI’s Sam Altman. Read More...
Few industries seem like unlikelier bedfellows than tech and utilities. Friday saw Constellation Energy Group pop 25%, a move investors have come to associate with tech rather than utilities, after the firm inked a two-decade power purchase agreement, or PPA, with Microsoft The deal includes the infamous Three Mile Island Nuclear Plant, the site of a 1979 partial nuclear meltdown in a reactor that’s been dormant since, and whose other reactor was shuttered for financial reasons in 2019. As a recent Barron’s cover story noted, Microsoft has been hiring nuclear experts and also agreed to buy nuclear energy from a nuclear-fusion start-up called Helion, backed by OpenAI’s Sam Altman.
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