Constellation, operator of the nation’s largest fleet of reliable, carbon-free nuclear plants – 21 plants to be exact – has announced its acquisition of a 44% ownership stake of NRG’s South Texas Project Electric Generating Station (STP).
STP is a 2,645-megawatt, dual-unit nuclear plant located about 90 miles southwest of Houston. It is one of the newest and largest nuclear plants in the U.S., with an exceptional track record for safety and reliability, generating enough carbon-free power for two million average homes.
Constellation’s stake represents approximately 1,100 megawatts of the plant’s output. The ownership transfer was approved on October 30 by the Nuclear Regulatory Commission, which was the final regulatory approval needed before closing the deal.
“Growing our fleet of the nation’s best-run nuclear plants is at the heart of our growth strategy,” said Joe Dominguez, President and CEO of Constellation. “As the world is waking up to the immense value of nuclear power to address the climate crisis and maintain energy security, Constellation will continue to look for opportunities to expand our ownership of assets like STP. We look forward to working with our new co-owners and the plant’s team members to provide reliable, clean, and affordable energy, as well as economic benefits to the people of Texas.”
This acquisition only adds to Constellation’s presence in Texas. With more than 550 employees, Constellation is a supplier in Texas’ competitive retail energy market – supplying electricity, natural gas, energy efficiency and other services to approximately 200,000 residential and commercial customers statewide. They own and operate three natural gas-fired power plants – Colorado Bend II, Wolf Hollow II and Handley – providing 3,520 megawatts to the Texas grid. In addition, they can add an additional 169 megawatts of wind energy to the Texas grid from the Whitetail and Sendero Wind Farms.
Constellation is an industry leader in operating nuclear plants safely, efficiently, and reliably, with a fleetwide capacity factor of more than 94%. With this acquisition, Constellation’s owned nuclear assets are capable of powering the equivalent of more than 16 million average homes.