The owner of the shuttered Three Mile Island nuclear plant in Pennsylvania will invest $1.6 billion to revive it, agreeing to sell all the output to Microsoft as the tech titan seeks carbon-free electricity for data centers to power the artificial intelligence boom.
Constellation Energy, the biggest U.S. operator of reactors, expects Three Mile Island to go back into service in 2028, according to a statement Friday. While one of the site’s two units permanently closed almost a half-century ago after the worst U.S. nuclear accident, Constellation is planning to reopen the other reactor, which shut in 2019 because it couldn’t compete economically.
Shares of Constellation Energy jumped as much as 22%, the most on record, to an all-time high on Friday.
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