ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Constellation Repowers Criterion Wind as Part of $350 Million Investment in Its Renewable Fleet

Project is the latest in a series of investments to accelerate renewable, nuclear and other clean-energy growth initiatives across the company

Constellation (Nasdaq: CEG) is improving the efficiency and increasing the output of its Criterion wind project in Oakland, Md., and extending the life of the facility for 20 years, a move that will deliver more carbon-free electricity to the region and launch a $350 million effort to increase the output and lifespan of the company’s renewable energy portfolio. Over the course of this fleetwide project, Constellation’s repowering efforts will enable 315 megawatts of its existing carbon-free wind fleet to generate greater output at the same wind conditions.

The Criterion wind project is the latest in a series of investments Constellation has made to lead the nation’s response to the climate crisis and help states like Maryland accelerate clean-energy growth initiatives and achieve the aggressive environmental goals set forth by the Maryland General Assembly and the Moore administration. Constellation operates 27 wind projects that are capable of producing about 1,400 megawatts of electricity.

“Constellation leads the nation in carbon-free energy production. Our investment strategy will unlock even more clean energy from our existing facilities to help the nation meet its ambitious climate goals,” said Joe Dominguez, president and CEO of Constellation.

In addition to the significant investment in Maryland in recent months, Constellation has announced the acquisition of a 44 percent ownership stake in the South Texas Project nuclear plant, an intent to seek license renewal at its Clinton and Dresden nuclear plants in Illinois, and an $800 million uprate project at the Braidwood and Byron nuclear facilities in Illinois. In addition, Constellation recently began producing hydrogen at the nation’s first one-megawatt nuclear-powered clean hydrogen facility in upstate New York, and set an industry record for blending high concentrations of hydrogen with natural gas to lower emissions at its Hillabee Generating Station in Alabama.

“We are very excited about this project, as the assessable tax base and the 100-plus construction jobs created are significant,” said Paul Edwards, Chairman of the Garrett County Commissioners. “The increase in carbon-free power production is also needed. This is a huge upgrade for our region.”

Photos and B-Roll of the project are available HERE

Construction at the Criterion wind project is underway with the installation of new, high-efficiency rotors, turbine blades and generators at the 28-unit site. The older turbine blades and equipment will be recycled. The power generated at the wind project will continue to be sold to Old Dominion Electric Cooperative (ODEC). The project is expected to be completed before year end.

Constellation employs about 3,200 employees and contractors in Maryland and is Maryland���s largest producer of carbon-free energy. Through its Calvert Cliffs Nuclear Plant in Calvert County, the Conowingo Dam along the Susquehanna River, and three wind farms in western Maryland, Constellation produces approximately 90 percent of Maryland’s carbon-free energy. In 2022, the company and its employees contributed $3.3 million to Maryland nonprofits and volunteered more than 21,000 hours.

About Constellation

Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing around 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter.

Contacts

Recent Quotes

View More
Symbol Price Change (%)
AMZN  249.32
-4.68 (-1.84%)
AAPL  270.04
+0.99 (0.37%)
AMD  250.05
-9.60 (-3.70%)
BAC  53.54
-0.02 (-0.04%)
GOOG  278.06
-6.06 (-2.13%)
META  627.32
-10.39 (-1.63%)
MSFT  514.33
-2.70 (-0.52%)
NVDA  198.69
-8.19 (-3.96%)
ORCL  248.17
-9.68 (-3.75%)
TSLA  444.26
-24.11 (-5.15%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.