Constellation Energy to invest in 5,800 MW projects in Maryland; shares fall

** Shares of U.S. utility Constellation Energy CEG falls 2.6% to $367.84 premarket

** Company says it will invest in up to 5,800 megawatts of power generation and battery storage projects in Maryland to meet rising demand for electricity

** CEG on Oct 31 submitted battery storage and gas generation proposals to the Maryland Public Service Commission (PSC) to fast-track permits for large-scale energy projects

** Company says the projects will cover more than 5% of the state's peak load with battery storage and increase total power generation capacity by about 10%

** As of last close, shares are up 68.84% YTD