Constellation Energy Secures DOE Conditional Loan Commitment for Nuclear Uprates

MT Newswires Live02:03

Constellation Energy (CEG) has secured conditional loan commitment of up to $5 billion from US Department of Energy for nuclear uprates across select company facilities, it said on Tuesday.

DOE's conditional commitment is subject to due diligence, negotiation of definitive financing documents as well as satisfaction of applicable conditions, according to a statement.

Uprate is the process of increasing electricity production from existing plants, Constellation Energy said, adding that DOE's conditional commitment will be available for certain facilities in Illinois, Maryland and Pennsylvania.

Shares of Constellation Energy were up 1.8% in Tuesday trading.

Price: 257.35, Change: +4.87, Percent Change: +1.93

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