Constellation Energy Stock Soars After Inking Deal with Microsoft

Microsoft to Buy Renewable Energy from Constellation

Shares of Constellation Energy Corp. climbed more than 10% in after-hours trading on Monday after the company announced a deal to sell renewable energy to Microsoft Corp. The deal, which is expected to close in 2023, will see Constellation supply Microsoft with 2,400 megawatts of clean energy from its solar and wind farms. Microsoft has pledged to become carbon negative by 2030 and to use 100% renewable energy by 2025.

Constellation to Benefit from Growing Demand for Renewables

The deal is a major win for Constellation, which has been investing heavily in renewable energy. The company has more than 10,000 megawatts of renewable energy capacity in operation or under development, and it plans to add another 10,000 megawatts by 2026. The deal with Microsoft will help Constellation meet its growth targets and benefit from the growing demand for renewable energy.

Deal Highlights Constellation's Competitive Advantage

The deal also highlights Constellation's competitive advantage in the renewable energy market. The company has a long history of developing and operating renewable energy projects, and it has a strong track record of delivering reliable and affordable clean energy to its customers. The deal with Microsoft is a testament to Constellation's expertise and its ability to meet the needs of large energy users.

Key Points

• Constellation Energy stock rose more than 10% after the company announced a deal to sell renewable energy to Microsoft.
• The deal will see Constellation supply Microsoft with 2,400 megawatts of clean energy from its solar and wind farms.
• The deal highlights Constellation's competitive advantage in the renewable energy market.