GHG Emissions, Sourcing Renewables - February 2, 2022
Constellation Launches as Standalone Company
Constellation announced its launch as a standalone, publicly traded company following the completion of its separation from Exelon Corp.
The company will be the largest carbon-free energy producer and supplier of clean energy to millions of homes and businesses, according to a statement. Headquartered in Baltimore, Constellation will be a Fortune 200 company and operates in 48 states, Canada and the U.K., employing approximately 13,000 people.
“The future health and prosperity of our nation is inextricably linked to our success in eliminating carbon pollution, and our entire focus will be on helping our customers and communities achieve that goal,” said Joseph Dominguez, CEO of Constellation. “Today begins an exciting transition for our company and employees as we affirm our mission to accelerate the transition to a carbon-free future and advance economic progress and equity in the communities we serve.”
Constellation also is exploring growth opportunities, including potential acquisitions of clean energy assets, creating clean hydrogen using its nuclear fleet, introducing new products and services for business customers or leveraging the generation fleet for repowering, co-location of data centers, and other opportunities.
Constellation powers more than 20 million homes and businesses and is working to accelerate the transition to clean energy with over 32,400 MW of capacity and annual output that is nearly 90% carbon-free.
Constellation’s strategy to respond to climate change includes the following:
- Commitment to a carbon-free future. Constellation’s fleet of nuclear, hydro, wind, and solar generation facilities provides 10% of all clean power on the grid in the U.S. Constellation’s climate goals include achieving 95% carbon-free electricity by 2030. 100% carbon-free electricity and a 100% reduction of operations-driven emissions by 2040.
- World-class operations. Constellation’s nuclear energy fleet has run over 94% of the time since 2013, which is 4%better than the industry average and had a 2020 refueling outage duration of 22 days, 11 days below the industry average.
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