Constellation (NASDAQ: CEG) shares advanced Monday. The largest U.S. producer of carbon-free energy today issued the first corporate green bond in the United States that can be used to finance nuclear energy projects. Constellation will use proceeds from the $900-million, 30-year term offering for investments such as maintenance, expansion and life extensions of its clean, reliable nuclear power generation that reduce or avoid carbon emissions or provide other environmental benefits.
A green bond is a financial instrument that is issued specifically to finance projects or activities that deliver positive environmental or climate impacts. It allows investors to actively support investments that promote sustainability and help address environmental challenges.
“Elected officials on both sides of the aisle, climate and sustainability advocates and the general public are increasingly recognizing the value nuclear energy delivers, not only for its unmatched 24/7 reliability, but for its positive environmental impact as a clean energy resource. The strong market response shows the investment community agrees nuclear energy is a unique clean-energy technology that is going to play a critical role for decades to come and is a safe, long-term investment,” said CFO Dan Eggers.
CEG shares began the week up $1.24 to $166.76.
