BALTIMORE (June 5, 2023) — Constellation (Nasdaq CEG), the nation’s largest producer of carbon-free energy, has been named a Fortune 200 company after its first full year as an independent company. With 2022 revenue of $24.4 billion, Constellation is among the largest power providers in the nation and has the lowest carbon emissions and lowest carbon intensity of any major power producer in the U.S. It is the highest ranked Baltimore-based company in the Fortune 500.
Coming in at 162 on the list, this ranking recognizes Constellation’s position among the top 200 largest companies in the country and a key player in the energy sector. The annual list includes companies that are incorporated in the U.S., operate in the U.S., and file financial statements with a government agency. The companies are ranked by total revenues for their respective fiscal years.
“As one of America’s largest and most diversified clean energy companies, Constellation is well positioned and purpose-driven to make real and lasting impacts on the communities we serve,” said CEO Joe Dominguez. “By continuing to invest in clean energy technologies, we are expanding carbon-free generation; delivering clean, safe, reliable power; and improving access to jobs and opportunities across the country.”
Constellation’s inclusion on this year’s list reflects that it is now a stand-alone publicly traded company, following its separation from its former parent company in February 2022. Choosing Baltimore as the location for its headquarters, Constellation is the city's largest publicly traded company and is committed to continued investment in Baltimore and throughout the state. Today, the company produces approximately 90 percent of Maryland’s carbon-free energy, pays $33 million in state and local taxes, and has more than 3,200 employees and contractors in Maryland.
With separation from its parent company last year, Constellation launched with a clear growth strategy: to maintain and grow its fleet of carbon-free generation assets and lead the nation’s response to the climate crisis by investing in clean energy technologies. And to date, the company has remained true to its purpose, recently announcing the acquisition of a 44 percent ownership stake in the South Texas Project nuclear plant, intent to seek license renewals at its Clinton and Dresden nuclear plants, and an $800 million uprate project at the Braidwood and Byron nuclear facilities. In addition, Constellation recently began producing hydrogen at the nation’s first one-megawatt nuclear-powered clean hydrogen facility in upstate New York, and set an industry record for blending high concentrations of hydrogen with natural gas to lower emissions at its Hillabee Generating Station.