10 Best Alternative Fuel Stocks To Buy According to Hedge Funds

2. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 78

Constellation Energy is one of the largest suppliers of carbon-free electricity in the United States. The company boasts over 23,000 megawatts of generating capacity across its nuclear, solar, wind, and hydroelectric power facilities. The company is known for its strong emphasis on environmental sustainability and technological innovation. Constellation Energy Corporation (NASDAQ:CEG) has committed to an ambitious goal of delivering 100% carbon-free electricity by 2040.

Constellation Energy Corporation (NASDAQ:CEG) is leveraging its extensive nuclear fleet, which is the largest and most reliable in the United States, to add additional nuclear generation to the grid. The company is focusing on the restart of the Crane Clean Energy Center, a 1,100-megawatt nuclear plant scheduled to come online in 2027. Constellation Energy Corporation (NASDAQ:CEG) is also pursuing uprates at existing nuclear facilities, aiming to add at least 1,000 megawatts of additional nuclear generation to the grid. Additionally, the company is advancing research and development in new nuclear technologies, such as small modular reactors (SMRs) and natural gas with carbon capture and sequestration (CCUS), which will play a vital role in the long-term transition to a sustainable energy future.

Constellation Energy Corporation (NASDAQ:CEG) is also urging U.S. regulators to establish new rules for connecting customers directly to power plants. The company argues that the current lack of clear guidelines has allowed electric utilities to unfairly obstruct efforts to site, or co-locate, data centers at nuclear facilities. On November 27, Reuters reported that Constellation Energy Corporation (NASDAQ:CEG) filed a complaint with the Federal Energy Regulatory Commission (FERC) against grid operator PJM Interconnection, claiming that some of its projects to develop data centers at power plant sites are being hindered by the absence of clear regulations and is posing a threat to the project’s progress.