Nuclear plant owners already looking at a tax credit in the recently passed U.S. federal climate package derive additional benefits by supplying electricity to hydrogen producers, according to industry analysts.
Constellation Energy Corp., with a nuclear generation fleet of more than 21,600 MW, in particular, would benefit from unlocking “new potential opportunities for merchant nuclear plants and attractive returns for hydrogen facilities,” Morgan Stanley told clients in a Sept. 12 report.
Dedicating 5% of that nuclear capacity, about 1,000 MW, to clean hydrogen production would increase annual EBITDA by $300 million to $350 million, which would account for 10% of Constellation’s total EBITDA, according to Morgan Stanley, and “could crystallize in the 2026 time frame,” with the potential for some contributions in 2025.
Constellation is already incorporating clean hydrogen…
Nuclear operators poised to benefit from hydrogen tax credits in US climate law
