Data as of: October 3, 2026 Issued: Saturday, October 3, 2026 Evidence key: CONFIRMED (primary source), REPORTED (multiple outlets), RUMORED (unverified market reporting), ANALYTICAL (inference).
Constellation signed a 20-year power purchase agreement with Amazon that supports more than $3 billion of investment and about 190 MW of new capacity at Calvert Cliffs, with delivery in 2030–32 and relicensing enabled. It sits alongside a 15-year Toyota renewables deal signed in September and a PPA with Ferrovial for more than 115 MW of solar.
The financing innovation matters more than the megawatts. New US generation is increasingly being underwritten by hyperscaler and corporate balance sheets rather than utility credit — the offtake agreement has become the bankability anchor, the same role take-or-pay contracts play in the Kandla green-ammonia project in India. Watch for data-center developers seeking direct equity in generation assets next; the PPA is the halfway house.
Enel’s parallel moves show the corporate-recycling side: two US solar portfolio closes totaling about $900 million and 1,080 MW, funded from operating cash flows, taking Enel North America toward 13 GW of renewables.