Constellation Energy Corp. shares rose about 3% on October 27, 2026, after reports that the White House is offering up to $5 billion in financing to upgrade the company’s nuclear reactor fleet. The projects would modernize reactors in Illinois, Maryland, and Pennsylvania.
The U.S. Department of Energy said projects covered by the conditional loan commitment are expected to add nearly 1.1 gigawatts of electricity, strengthening the grid and helping reduce power costs.
Energy Secretary Chris Wright is set to announce the financing at an Illinois nuclear facility that supplies power to Google. The announcement highlights growing technology-sector demand for clean, reliable energy.
The upgrades would replace older equipment with more efficient technology, increasing output from existing plants rather than building new reactors.