Constellation Energy completes acquisition of stake in Texas nuclear plant

Constellation (CEG) announced that it has completed its acquisition of NRG Energy’s (NRG) 44% 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. Constellation’s stake represents approximately 1,100 megawatts of the plant’s output. The ownership transfer was approved on October 30 by the Nuclear Regulatory Commission, which was the final regulatory approval needed before closing the deal. “Growing our fleet of the nation’s best-run nuclear plants is at the heart of our growth strategy,” said Joe Dominguez, president and CEO of Constellation. “As the world is waking up to the immense value of nuclear power to address the climate crisis and maintain energy security, Constellation will continue to look for opportunities to expand our ownership of assets like STP. We look forward to working with our new co-owners and the plant’s team members to provide reliable, clean and affordable energy, as well as economic benefits to the people of Texas.”