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Update (13:47PM) : Adds share movement
Amazon.com (NASDAQ:AMZN) has said it will continue to back a deal for an Amazon Web Services data center in Pennsylvania powered by Talen Energy's (NASDAQ:TLN) nuclear power plant.
Last week, the Federal Energy Regulatory Commission voted against Talen’s request for an interconnection agreement with an AWS data center.
The deal would have increased the power its nuclear power plant in Pennsylvania could supply to an adjacent AWS data center.
Members of FERC said the deal could raise power bills for the public and affect the grid's reliability.
The Amazon-Talen deal would have meant AWS would pay $650M to build a data center campus with a requirement of up to 960 MW adjacent to the Susquehanna nuclear plant. Talen still holds rights to power the facility with as much as 300 MW.
Talen (TLN) said it was evaluating options, but Amazon spokesperson Duncan Neasham told Monday the company remains committed to “advancing carbon-free energy solutions with companies like Talen Energy.”
Shares of Talen Energy (TLN) were up 10.3%, while other nuclear-related names Vistra Corp (VST) gained 4.2%, Constellation Energy (CEG) rose 3%, Public Service Enterprise Group (PEG) +1.7%, Cameco (CCJ) +0.2% and Nano Nuclear Energy (NNE) +3.4%.
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