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Invenergy Announces New Agreements with Meta for Renewable Energy to Support Data Center Operations

LCG, June 26, 2025--Invenergy today announced that they and Meta Platforms, Inc. have signed four new clean energy agreements that total an additional 791 MW of procured solar and wind capacity to support Meta's near-term operations, data center growth, and clean energy goals.

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New York Power Authority to Develop New Nuclear Facility in Upstate New York

LCG, June 23, 2025--The Governor of New York today directed the New York Power Authority (NYPA) to develop and construct an advanced nuclear power plant in upstate New York to deliver zero-emission power that supports a reliable and affordable electric grid. NYPA will lead the effort to develop at least one new nuclear energy facility with a combined capacity of at least one gigawatt (GW) of electricity, either alone or in partnership with private entities. The directive builds on the Governor’s 2025 State of the State to develop nuclear energy plans in New York.

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Industry News

Constellation to Spin Off BG&E

LCG, Oct. 24, 2000--Constellation Energy Group, parent of the Baltimore Gas & Electric Co. utility and of Constellation Enterprises Inc., said yesterday it would spin off BG&E, its retail energy services unit, in a move designed to enhance Constellation's merchant power business.

The move will create two stand-alone, publicly traded energy companies headquartered in Maryland, the company said in a press release. One of them, BG&E, will continue to do business in regional retail energy and energy services and will be chaired by Edward Crooke, who is returning after taking an early retirement as Constellation's vice chairman last January.

"Constellation Energy Group is creating two strategically strong energy companies that will both beheadquartered in Maryland -- each one will be an attractive investment opportunity in the energysector," said Christian H. Poindexter, chairman and chief executive.

Constellation will focus on wholesale power marketing and generating in North America. Its goal will be to establish control over more than 30,000 megawatts of electrical generating capacity by 2005, with the objective of annual earnings growth between 20 and 25 percent.

Goldman Sachs has agreed to take up to a 17.5 percent stake in the merchant energy business after the separation in exchange for $250 million and certain assets related to its power marketing and trading business, and will also help develop Constellation's natural gas trading and marketing operations.

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