SOURCE: Industrial Info Resources

Industrial Info Resources

February 23, 2010 05:00 ET

Joint Venture With EDF Boosts Constellation Energy Group's Profits, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 23, 2010) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Constellation Energy Group Incorporated (NYSE:CEG) (Baltimore, Maryland) recently reported fourth-quarter and full-year results for the 2009 fiscal year. The company posted an annual net income of $4.5 billion, compared to a $1.3 billion loss in fiscal year 2008. Including a planned $9 billion, 1,600-megawatt unit addition at the Calvert Cliffs facility, Industrial Info is currently tracking more than $10 billion of active projects of Constellation Energy Group. The Calvert Cliffs Unit 3 addition project is one of 19 nuclear projects that applied for a portion of $18.5 billion in federal loan guarantees. Earlier this month, $8.8 billion in loan guarantees was provided to the Southern Company (NYSE:SO) (Atlanta, Georgia) for construction of units 3 and 4 of the company's Vogtle nuclear power station. "The DOE loan guarantee remains one of the critical components in funding this investment, and we are hopeful that a positive decision will be forthcoming," said Constellation Energy President and CEO Mayo Shattuck.

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