Constellation Energy Corporation CEG is expanding its generation portfolio following the Calpine acquisition while broadening its renewable energy assets to meet rising demand for clean electricity. Although nuclear and natural gas remain CEG’s primary generation sources, renewable energy development is further diversifying its portfolio.
The company’s renewable assets include two hydroelectric plants with more than 1,600 megawatts (MW) of capacity, six solar facilities totaling 377 MW and 27 wind projects across 10 states with over 1,400 MW of capacity. Following the Calpine acquisition, CEG also operates The Geysers geothermal complex in Northern California, comprising 13 plants with approximately 750 MW of capacity. The complex completed a 25-MW expansion in June 2026. The company also operates four battery storage facilities with 590 MW of capacity and has more than 2,000 MW in development. In the second quarter of 2026, CEG achieved a 96% renewable energy capture rate across its wind, solar and run-of-river hydro fleet.
On Sept. 21, 2026, CEG announced a 15-year renewable energy agreement with Toyota Motor North America supporting Ferrovial’s Milano Solar project in Texas. Under a separate power purchase agreement, CEG will purchase power associated with more than 115 MW of solar capacity, representing approximately 246,000 megawatt-hours of annual generation. Commercial operations are expected to begin in September 2027 and Toyota will receive renewable energy certificates from the project. These initiatives broaden CEG’s renewable offerings and support corporate customers’ sustainability goals.
CEG’s expanding renewable assets, storage capacity and corporate agreements support portfolio diversification and long-term growth.
Renewable Energy Expansion Drives Utility Growth
Rising investments in solar, wind and battery storage are expanding utilities’ generation portfolios. Renewable energy expansion benefits not only CEG but also other utility companies, as discussed below:
Clearway Energy CWEN operates 13.9 GW of gross generating capacity, including 11.1 GW of renewable energy and storage assets, strengthening its position in clean power.
NextEra Energy, Inc. NEE generates, transmits and distributes electricity across North America. In the second quarter of 2026, it added 3.6 GW of wind, solar and battery storage projects to its backlog, reaching 35.1 GW.
The Zacks Rundown on CEG
CEG’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates an increase of 29.82% and 8.76%, respectively, year over year.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
