8 Most Promising Clean Energy Stocks According to Hedge Funds

3. Constellation Energy (NASDAQ:CEG)  

Number of Hedge Fund Holders: 71  

Constellation Energy (NASDAQ:CEG) supplies natural gas, energy products, and services to residential, commercial, and industrial clients across North America. As a major player in nuclear power, Constellation Energy (NASDAQ:CEG) contributes 10% of the total carbon-free energy consumed in the United States.

On September 20, Constellation Energy (NASDAQ:CEG) announced a 20-year power purchase agreement with Microsoft, under which the tech giant will acquire a significant amount of energy from the renewed plant to power its data centers. This milestone is being made possible through the launch of the Crane Clean Energy Center (CCEC) and the planned restart of the Three Mile Island Unit 1 nuclear reactor, which was shut down in 2019 for economic reasons. As a result of this agreement, approximately 835 megawatts of carbon-free energy will be added to the grid, contributing significantly to a cleaner and more sustainable energy mix. The CCEC is expected to become operational by 2028.

In the first quarter, Constellation Energy (NASDAQ:CEG) issued a $900 million, 30-year corporate green bond to fund initiatives like nuclear upgrades, clean hydrogen production, and energy storage systems, further supporting the generation of carbon-free energy. Constellation (NASDAQ:CEG) has secured long-term contracts for the sale of sustainable energy with major tech companies like Microsoft, Google, and Nucor Steel, providing a stable revenue stream.