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Constellation Energy (NASDAQ:CEG) is in talks with the Pennsylvania lawmakers to help fund a possible restart of part of its Three Mile Island nuclear power facility, Reuters reported late Tuesday.
The unit reportedly under consideration to be restarted is separate from the reactor that melted down in 1979.
The conversations, described as “beyond preliminary,” signal that Constellation (CEG) is advancing plans to revive part of the southern Pennsylvania nuclear generation site, which operated during 1974-2019, according to the report.
A shut Michigan nuclear plant, which was recently awarded a $1.5B conditional loan to restart from the Biden administration, could serve as a private-public sector blueprint for Three Mile Island, the report said.
Constellation (CEG) shares have jumped nearly 80% YTD on the prospect of surging demand for carbon-free electricity.