{"id":761124,"date":"2023-06-01T06:53:37","date_gmt":"2023-06-01T10:53:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/"},"modified":"2023-06-01T06:53:37","modified_gmt":"2023-06-01T10:53:37","slug":"constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/","title":{"rendered":"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nConstellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy<\/p>\n<p class=\"bwalignc\"><i>Company will purchase 44% share of South Texas Project Electric Generating Station, expanding nation\u2019s largest carbon-free nuclear fleet<\/i><\/p>\n<p>BALTIMORE&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nConstellation, operator of the nation\u2019s largest fleet of reliable, carbon-free nuclear plants, announced today it is acquiring NRG Energy Inc.\u2019s 44 percent ownership stake in the South Texas Project Electric Generating Station, a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. The transaction is valued at $1.75 billion, with an effective purchase price of $1.4 billion after taking into consideration the present value of tax benefits to Constellation. The transaction will be financed with a combination of cash and debt.<\/p>\n<p>\n\u201cThe South Texas Project is an exceptionally well-maintained plant and its ability to produce resilient, carbon-free energy 24\/7 makes it among the most valuable power sources in the world,\u201d said Joe Dominguez, president and CEO of Constellation. \u201cWith the potential to run for at least 46 more years with the right policy support, we look forward to working with the South Texas Project\u2019s other owners to continue bringing clean, reliable electricity to this growing region for decades to come.\u201d<\/p>\n<p>\nAfter the transaction, Constellation will be one of three owners with oversight of the South Texas Project Nuclear Operating Company (STPNOC), which will continue to operate the plant. The purchase is subject to approval by the Nuclear Regulatory Commission and Department of Justice. We expect the deal to be completed by year end.<\/p>\n<p>\nOne of the newest and largest nuclear plants in the U.S., the South Texas Project has an exceptional track record for safety and reliability, generating enough carbon-free power for two million average homes.<\/p>\n<p>\nConstellation is an industry leader in operating nuclear plants safely, efficiently and reliably, with a fleetwide capacity factor of more than 94 percent over the past decade, or about 4 percent higher than the industry average. The company has ownership interests in 13 generating stations with 23 nuclear units capable of producing approximately 21,000 megawatts of electricity, enough clean energy to power approximately 15 million homes.<\/p>\n<p>\nConstellation already has a strong and growing presence in Texas as an employer, taxpayer and significant provider of electricity and other services to the region. The company owns and operates 3,520 megawatts of natural gas-fired generation at its <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.constellationenergy.com%2Four-company%2Flocations%2Flocation-sites%2Fcolorado-bend-ii.html&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=Colorado+Bend+II&amp;index=1&amp;md5=2720e223db81d52dfd68041c7aac84a9\">Colorado Bend II<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.constellationenergy.com%2Four-company%2Flocations%2Flocation-sites%2Fwolf-hollow-ii.html.html&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=Wolf+Hollow+II&amp;index=2&amp;md5=5972eff142563980b05fb7865ce588fe\">Wolf Hollow II<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.constellationenergy.com%2Four-company%2Flocations%2Flocation-sites%2Fhandley-generating-station.html&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=Handley&amp;index=3&amp;md5=55c00819c2dcfa08d4b8367327075b2f\">Handley<\/a> generating stations in Texas, in addition to 169 megawatts of wind energy at the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.constellationenergy.com%2Four-company%2Flocations%2Flocation-sites%2Fwhitetail-wind-project.html&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=Whitetail&amp;index=4&amp;md5=2938addd6268c777ba9fe35d33d8c363\">Whitetail<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.constellationenergy.com%2Four-company%2Flocations%2Flocation-sites%2Fsendero-wind-project.html&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=Sendero&amp;index=5&amp;md5=0a69da0d78f9db7156e304bf399cf5a8\">Sendero<\/a> wind projects. Constellation also is a supplier in Texas\u2019 competitive retail energy market, supplying electricity, natural gas, energy efficiency and other services to approximately 200,000 residential and commercial customers statewide.<\/p>\n<p>\nThe company and its more than 550 Texas employees donated $460,000 to nonprofit organizations across the state in 2022 and contributed 4,800 volunteer hours. Constellation also paid $33.6 million in state and local taxes in Texas last year.<\/p>\n<p>\nBofA Securities is serving as the exclusive financial advisor to Constellation and Sidley Austin LLP is the lead transaction counsel to the company.<\/p>\n<p>\nAbout Constellation<\/p>\n<p>\nHeadquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation\u2019s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation\u2019s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing about 10% of the nation\u2019s clean energy. We are further accelerating the nation\u2019s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F5113%2F&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=6&amp;md5=04726ce649794af8dbc44c2aa5df8edb\">LinkedIn<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FConstellationEG&amp;esheet=53410317&amp;newsitemid=20230601005088&amp;lan=en-US&amp;anchor=Twitter&amp;index=7&amp;md5=5cda9be543e5b6c6818c64aa0fb05930\">Twitter<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230601005088r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230601005088\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230601005088\/en\/<\/a><\/span><\/p>\n<p>\nPaul Adams<br \/>\n<br \/>Constellation Communications<br \/>\n<br \/>410-470-9700<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:paul.adams@constellation.com\">paul.adams@constellation.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas Maryland<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Oil\/Gas Alternative Energy Energy Nuclear Utilities<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy Company will purchase 44% share of South Texas Project Electric Generating Station, expanding nation\u2019s largest carbon-free nuclear fleet BALTIMORE&#8211;(BUSINESS WIRE)&#8211; Constellation, operator of the nation\u2019s largest fleet of reliable, carbon-free nuclear plants, announced today it is acquiring NRG Energy Inc.\u2019s 44 percent ownership stake in the South Texas Project Electric Generating Station, a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. The transaction is valued at $1.75 billion, with an effective purchase price of $1.4 billion after taking into consideration the present value of tax benefits to Constellation. The transaction will be financed with a combination of cash and debt. \u201cThe South Texas Project is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-761124","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy Company will purchase 44% share of South Texas Project Electric Generating Station, expanding nation\u2019s largest carbon-free nuclear fleet BALTIMORE&#8211;(BUSINESS WIRE)&#8211; Constellation, operator of the nation\u2019s largest fleet of reliable, carbon-free nuclear plants, announced today it is acquiring NRG Energy Inc.\u2019s 44 percent ownership stake in the South Texas Project Electric Generating Station, a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. The transaction is valued at $1.75 billion, with an effective purchase price of $1.4 billion after taking into consideration the present value of tax benefits to Constellation. The transaction will be financed with a combination of cash and debt. \u201cThe South Texas Project is &hellip; Continue reading &quot;Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-01T10:53:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230601005088r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy\",\"datePublished\":\"2023-06-01T10:53:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\\\/\"},\"wordCount\":680,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230601005088r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\\\/\",\"name\":\"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy - 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The transaction is valued at $1.75 billion, with an effective purchase price of $1.4 billion after taking into consideration the present value of tax benefits to Constellation. The transaction will be financed with a combination of cash and debt. \u201cThe South Texas Project is &hellip; Continue reading \"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/","og_site_name":"Market Newsdesk","article_published_time":"2023-06-01T10:53:37+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230601005088r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy","datePublished":"2023-06-01T10:53:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/"},"wordCount":680,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230601005088r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/constellation-to-acquire-ownership-stake-in-texas-nuclear-plant-from-nrg-energy\/","name":"Constellation to Acquire Ownership Stake in Texas Nuclear Plant From NRG Energy - 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