Constellation Energy’s Calpine Unit Secures 380 MW Data Center Deal, Boosts Texas Capacity
Constellation Energy's Calpine unit signed a 380 MW agreement with CyrusOne to power a data center near Freestone in Texas, raising total contracted capacity for CyrusOne to over 1,100 MW. Wells Fargo held an Overweight rating, cutting its price target to $460 from $478 after the $16.4 billion Calpine acquisition.
1. 380 MW CyrusOne Deal
On February 9, Constellation Energy's Calpine unit inked a 380 megawatt contract with CyrusOne to supply power, grid connectivity and site infrastructure for a new data center near the Freestone Energy Center in Texas.
2. Texas Capacity Expansion
The new agreement, alongside a 400 megawatt deal for the Thad Hill Energy Center announced last year, elevates total contracted capacity for CyrusOne data centers in Texas to over 1,100 megawatts.
3. Acquisition Closure and Analyst Action
Constellation Energy completed its $16.4 billion acquisition of Calpine last month, and Wells Fargo retained an Overweight rating on the stock while reducing its price target to $460 from $478.