energy utility

Constellation Energy

Largest US nuclear operator; signed 20-yr Three Mile Island restart PPA with Microsoft (2024).

Owned / funded by

Capital and control flowing in

Energy Capital Partners· acquired$26.6B
Constellation acquiring Calpine from ECP for $26.6B (announced Jan 2025) — gas+geothermal scale.
CPP Investments· invests in$1.9B
Net ~$1.9B in Constellation stock + ~$700M cash from the Calpine sale (CPPIB held 15.75% of Calpine since 2018).
LS Power· acquired
In March 2026, Constellation agreed to sell PJM generation assets to LS Power as part of FERC and DOJ resolution of the Constellation-Calpine transaction.
Calpine Corporation· acquired$26.6B
Constellation Energy completed its $26.6 billion acquisition of Calpine from Energy Capital Partners in January 2026, creating the nation's largest power producer with 55 GW of capacity.
Calpine Corporation· subsidiary of
Calpine became a subsidiary of Constellation Energy following the January 2026 acquisition close.

5 projects in the dataset

Microsoft @ Crane Clean Energy Center (TMI restart)· supplies energy
Londonderry Township, Dauphin, PAAnnounced835 MW
Amazon Lusby (Calvert Cliffs) Data Center Campus· supplies energy
Lusby, Calvert, MDProposed500 MW
Project Laurel Campus· supplies energy
Pottstown, Montgomery, PAProposed750 MW
MARA Granbury· supplies energy
Granbury, Hood, TXOperational300 MW
CyrusOne Fairfield (Freestone)· supplies energy
Fairfield, Freestone, TXAnnounced760 MW

Outbound services and contracts

Microsoft Corporation· supplies$1.6B
Constellation's 20-year PPA to restart Three Mile Island Unit 1 for Microsoft (2024).
Microsoft Corporation· partners with$1.0B
$1B DOE Loan Programs Office loan guarantee (Nov 18, 2025) financing the Crane (TMI-1) restart that supplies Microsoft's 20-yr PPA.

Data is editorial seed at this stage; relationships reflect public reporting and filings. Suggestions and corrections via GitHub.