Constellation Energy Inks Long-Term Nuclear Power Purchase Deal With Walmart

(RTTNews) - Tuesday, Constellation Energy Corporation (CEG) announced a long-term nuclear power purchase agreement with Walmart Inc. (WMT) for emissions-free electricity from the company's Dresden Clean Energy Center in Illinois.

As per the deal, Walmart will purchase energy, environmental attributes and capacity through two 15-year terms beginning in 2029 and 2030, which will help the retailer access cleaner energy and strengthen local energy infrastructure.

Moreover, the agreement will provide enough new power to the grid to support Walmart's previously announced high-tech perishable distribution center, currently in development in Belvidere, Illinois.

"This agreement reflects long-term stewardship of critical infrastructure, the communities it serves, and the energy system that powers American growth," said Jim McHugh, Senior Executive Vice President and Chief Commercial Officer, Constellation.

In the pre-market hours, CEG is trading at $267.36, down 2.97 percent, and WMT is trading at $118.34, up 0.99 percent on the Nasdaq.