Constellation Energy — largest US carbon-free generator (55 GW; 21 nuclear reactors + interest in Salem-1/2)
Exelon spins off Constellation Energy as standalone clean energy company. Created largest US clean energy producer (~10% of US clean generation). Shareholders received 1 CEG share per 3 Exelon shares. CEG NASDAQ debut Feb 2, 2022. Subsequent acquirer of Calpine ($26.6B, Jan 2025).
$15.00B
Deal Value
55,000MW
Capacity
Nuclear
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- Exelon Corporation (NASDAQ: EXC)
- Buyer / Financier
- Constellation Energy Corporation (NASDAQ: CEG)
- Deal Value
- ~$15B implied market cap at separation
- Stage
- Operating
- ISO/RTO
- Multiple
- Source
- Constellation Energy
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