10 Best Nuclear Energy Stocks To Invest In Now

5. Constellation Energy Corporation (NASDAQ:CEG)  

Upside Potential: 17.08%  

Constellation Energy Corporation (NASDAQ:CEG) is one of the largest producers of carbon-free energy in the United States. The company powers more than 20 million homes and businesses with more than 32,400 megawatts of capacity. Around 90% of Constellation Energy Corporation’s (NASDAQ:CEG) annual output is carbon-free. Constellation Energy Corporation (NASDAQ:CEG) is a key player in nuclear power and operates one of the largest fleets of nuclear plants in the United States.

On September 20, Constellation Energy Corporation (NASDAQ:CEG) signed a 20-year power purchase agreement with Microsoft that will pave the way for the restart of Three Mile Island Unit 1, a nuclear power plant that was shut down in 2019 due to economic reasons. The Three Mile Island plant is being renamed as Crane Clean Energy Center.

The agreement is Constellation Energy Corporation’s (NASDAQ:CEG) largest-ever power purchase agreement and will add approximately 835 megawatts of carbon-free energy to the grid. The project is expected to be online in 2028 and will operate for at least 20 years.

On October 16, Reuters reported that Constellation Energy Corporation (NASDAQ:CEG) has ordered a main power transformer for the Three Mile Island nuclear reactor, the transformer is expected to cost around $100 million and is the largest single piece of equipment that needs to be replaced for the plant’s revival.

The restart of this nuclear power plant has received strong public support, according to a recent statewide poll conducted by Susquehanna Polling & Research, 70% of Pennsylvanians favor the continued use of nuclear energy as a source of reliable, carbon-free energy.