Constellation Energy enters 5 GW of nuclear, gas, battery capacity in PJM queue
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- Constellation Energy has 5 GW of nuclear uprates, gas‑fired generation and battery storage projects queued in the PJM Interconnection.
- PJM Interconnection’s pending load‑co‑location rules and reliability backstop auction have data‑center customers waiting for regulatory clarity, slowing project negotiations.
- Calpine was acquired by Constellation Energy on Jan. 7 for $21.8 bn, adding roughly 23 GW of gas‑fired capacity.
- CyrusOne signed a 380‑MW power agreement with Constellation Energy to serve a new data center next to the Freestone Energy Center in Fairfield, Texas.
- ERCOT forward market assumptions beyond 2029 assume only 10,000–15,000 MW of new load, which Constellation CEO Joseph Dominguez says undervalues the market.
Why it matters: Constellation’s 5 GW PJM pipeline and Calpine buyout lock in future cash flow as day‑ahead prices jump, while data‑center developers gain reliable power; regulatory uncertainty stalls project financing.
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