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Osaic chief market strategist Phil Blancato discusses key economic data this week on ‘Making Money.’<\/p>\n
Walmart is making its first nuclear power play as the retail giant looks to support its growing footprint in Illinois.<\/p>\n
The retailer signed a long-term power purchase agreement with Constellation to buy emissions-free electricity from the company\u2019s Dresden Clean Energy Center in Illinois, the companies announced on June 23.<\/p>\n
The agreement provides Walmart with about 176 megawatts of power, including 30 megawatts of expanded generating capacity, through two 15-year terms starting in 2029 and 2030.<\/p>\n
WALMART LAUNCHES HARDWARE OVERHAUL, NEW KIDS BRAND IN PRIVATE-LABEL PUSH<\/p>\n
Walmart is making its first nuclear power play as the retail giant looks to support its growing footprint in Illinois. (Scott Olson\/Getty Images)<\/p>\n
The agreement will help power Walmart\u2019s planned high-tech perishable distribution center in Belvidere, Illinois \u2013 first announced in 2023 \u2013 while supporting upgrades at Dresden that will boost output from the existing nuclear facility without building a new plant.<\/p>\n
The deal marks Walmart\u2019s first nuclear power purchase agreement and is among the first of its kind between a large U.S. retailer and a nuclear energy facility, according to the companies.<\/p>\n
Walmart, which operates about 175 stores and clubs in Illinois and employs more than 55,000 associates in the state, said the agreement builds on its broader energy strategy.<\/p>\n
WALMART WARNS SHOPPERS COULD FACE HIGHER PRICES AS FUEL COSTS SURGE, TAX REFUNDS DRY UP<\/p>\n
The deal marks Walmart\u2019s first nuclear power purchase agreement. (Scott Olson\/Getty Images)<\/p>\n
“Working with Constellation allows us to support new operations in Illinois while advancing our strategy in a way that prioritizes affordable, reliable, and clean energy for our business and the communities we serve,” Shayne Wahlmeier, senior vice president of energy at Walmart US, said in a statement.<\/p>\n
\u00a0“We\u2019re constantly evaluating new capabilities and energy solutions that help ensure the electricity we rely on is dependable, responsibly produced, and built to support long-term growth,” Wahlmeier added.<\/p>\n
Corporate demand for nuclear power has accelerated in recent years, driven largely by Big Tech\u2019s need to power data centers and artificial intelligence (AI) operations.<\/p>\n
Ticker Security Last Change Change % WMT WALMART INC. 108.82 -4.44
\n -3.92%<\/p>\n
WALMART TO REMODEL OVER 650 STORES, OPEN ABOUT 20 NEW LOCATIONS<\/p>\n
A sign hangs on a fence which surrounds Constellation Energy’s LaSalle Clean Energy Center nuclear power plant on May 23, 2025, near Marseilles, Illinois. (Scott Olson\/Getty Images)<\/p>\n
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Meta announced earlier this year that it signed 20-year agreements to buy power from three Vistra-owned nuclear plants in Ohio and Pennsylvania, while also working with Oklo and TerraPower to help develop new nuclear projects.<\/p>\n
The deals could supply up to 6.6 gigawatts of nuclear power by 2035, the company\u2019s chief global affairs officer, Joel Kaplan, told FOX Business at the time.<\/p>\n
#Walmart #nuclear #power #play #support #Illinois #expansion<\/p>\n","protected":false},"excerpt":{"rendered":"
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