Summary by Moomoo AI
Constellation announced a landmark 20-year power purchase agreement with Microsoft to restart Three Mile Island Unit 1, to be renamed Crane Clean Energy Center. The 835-megawatt nuclear facility, which was shut down in 2019 for economic reasons, will supply carbon-free power to Microsoft's data centers in PJM when it returns to service in 2028.The project will create 3,400 direct and indirect jobs and generate over $3 billion in state and federal taxes. Constellation will invest significantly to restore the plant's systems and pursue license renewal to extend operations until at least 2054. The company has also committed $1 million in philanthropic giving to support local workforce development.The restart requires U.S. Nuclear Regulatory Commission approval following comprehensive safety reviews and permits from state agencies. Before its 2019 closure, the plant operated at industry-leading safety levels with 96.3% capacity factor, employing over 600 full-time workers and 1,000 contractors for maintenance outages. The facility's new name honors former CEO Chris Crane, who championed nuclear power throughout his career.
