Constellation could hash out similar deals with other hyperscalers, but it is a “high risk” investment, notes Citi’s Ryan Levine.

Constellation said the long-term contract will help extend the operating life of the Clinton plant, which faced possible closure after the expiration of its zero-emissions credit. The deal also includes a planned 30-megawatt capacity expansion.

Constellation Energy downgraded to Neutral from Buy at Citi, citing limited near-term upside following the stock’s recent rally and news of its power purchase agreement with Meta.