Constellation Enters Agreement To Sell Texas Power Plant, Buyer Named

Constellation has entered into an agreement with LS Power to divest Constellation's Brazos Valley Energy Center (f/k/a Jack A. Fusco Energy Center), a 606 MW natural gas-fired combined-cycle facility located outside Houston, Texas in the ERCOT market, for $860 million before closing adjustments

The divestment satisfies regulatory commitments relating to Constellation's acquisition of Calpine earlier this year, and marks the last asset sale required by Constellation's regulatory commitments under the acquisition, Constellation said

Closing of the sale is subject to the receipt of approval by the DOJ, and other customary closing conditions. Constellation expects the transaction to close by the end of this year.

Earlier this year in March, LS Power announced an agreement to acquire a 4,353 MW portfolio of five gas-fired generation assets in PJM from Constellation

LS Power said that, upon closing of its pending transactions with Constellation, LS Power's national operating fleet will total approximately 14,100 MW.

Constellation Energy Corporation today reported Adjusted Non-GAAP Operating Earnings for the second quarter of 2026 of $920 million, up from $599 million a year ago

Adjusted (non-GAAP) Operating Earnings for the second quarter of 2026 primarily reflect the addition of Calpine and favorable market and portfolio conditions, partially offset by unfavorable nuclear outages. Constellation for the second quarter of 2026 specifically cited higher capacity revenue and "strong" commercial performance through portfolio optimization and higher realized customer margins

Constellation noted that it has signed an additional 920 megawatts (MW) of long-term power purchase agreements (PPA) for nuclear generation with a, "diverse set of investment grade customers." These agreements are for 15-20 years in duration and are set to begin in 2029 through 2032.

Among these PPAs, Constellation cited its previously reported 176 MW agreement with Walmart which will enable a 30 MW capacity expansion at Constellation's Dresden Clean Energy Center in Illinois