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Retail Supplier Affiliate & Microsoft Team To Re-start Dormant Nuclear Plant
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Constellation announced today the signing of a 20-year power purchase agreement with Microsoft that Constellation said will pave the way for the restart of the Three Mile Island Unit 1 nuclear plant, to be called the Crane Clean Energy Center (CCEC)
TMI 1 was shut down five years ago for what Constellation called "economic reasons".
The capacity of CCEC will be approximately 835 megawatts, with Constellation stating that the unit will produce 7 million MWhs annually
The CCEC is expected to be online in 2028.
Constellation said that the decision, "Demonstrates the power of
competitive markets," with the restart, "100% funded
by Constellation and Microsoft and not
captive monopoly utility ratepayers".
Approximately $1.6 billion capex will be deployed under the re-start, Constellation said
Constellation further said that the use of a PPA to develop CCEC, "paves the way for future strategic partnerships".
Restarting a nuclear reactor requires U.S. Nuclear Regulatory Commission approval. Additionally, through a separate request, Constellation will pursue license renewal that would extend plant operations to at least 2054.
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September 20, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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