Microsoft Taps Constellation For 20-Year Carbon-Free Power – 3,400 Jobs Coming To Pennsylvania
Portfolio Pulse from Lekha Gupta
Microsoft has signed a 20-year power purchase agreement with Constellation Energy to source carbon-free energy for its data centers, leading to the launch of the Crane Clean Energy Center and the restart of Three Mile Island Unit 1. This initiative supports Microsoft's sustainability goals and is expected to create 3,400 jobs in Pennsylvania.
September 20, 2024 | 1:07 pm
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POSITIVE IMPACT
Constellation Energy's shares rise after announcing a 20-year power purchase agreement with Microsoft, involving the restart of Three Mile Island Unit 1. This deal supports Microsoft's sustainability goals and is expected to create 3,400 jobs.
The partnership with Microsoft for a long-term power purchase agreement is a significant positive development for Constellation Energy, leading to a 12.1% increase in share price. The restart of Three Mile Island Unit 1 and job creation further enhance the company's growth prospects.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Investors can gain exposure to Constellation Energy's positive developments through the Strive Natural Resources and Security ETF.
The Strive Natural Resources and Security ETF includes Constellation Energy, which is experiencing positive momentum due to its partnership with Microsoft. This could lead to potential gains for the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft's agreement with Constellation Energy to source carbon-free energy aligns with its sustainability goals and supports its commitment to becoming carbon negative.
The agreement with Constellation Energy is a strategic move for Microsoft to advance its sustainability initiatives, which could positively influence investor sentiment and support its long-term environmental goals.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Virtus Reaves Utilities ETF offers investors exposure to Constellation Energy's recent positive developments.
The Virtus Reaves Utilities ETF includes Constellation Energy, which is benefiting from its new agreement with Microsoft. This could enhance the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50