The owner of the shuttered Three Mile Island nuclear plant in Pennsylvania is investing $1.6 billion to revive the plant, agreeing to sell its entire output to Microsoft as the tech giant seeks carbon-free electricity for data centers to fuel the rise of artificial intelligence.
Constellation Energy, the largest U.S. reactor operator, expects Three Mile Island to return to service in 2028, according to a statement Friday. While one of the site’s two units was permanently shut down nearly half a century ago after the nation’s worst nuclear accident, Constellation plans to reopen the other reactor, which closed in 2019 because it was uncompetitive.
Shares of Constellation Energy rose as much as 22% on Friday, the biggest gain ever, to a record high.
