What is Constellation Energy's newest acquisition?
Constellation Energy finalized the acquisition of Calpine Corporation in early 2026, a deal valued at approximately $26.6 billion including assumed debt. This transaction unites Constellation’s massive zero-emission nuclear fleet with Calpine’s extensive natural gas and geothermal generation assets, creating what the company describes as the nation's largest producer of electricity. The deal was subject to regulatory conditions, including the divestment of specific natural gas-fired units in Texas and the PJM Interconnection. This acquisition is part of Constellation's broader strategy to scale clean technologies, including advanced nuclear power, and strengthen its footprint in high-demand regions like Texas and California.
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