Cameco CEO Tim Gitzel on Westinghouse deal - and nuclear's crucial climate role
October saw the big news that a strategic partnership of Cameco Corporation and Brookfield Renewable Partners is to acquire Westinghouse Electric Company for a total enterprise value of approximately USD8 billion. Brookfield Renewable, together with its institutional partners, will own a 51% interest in Westinghouse and Cameco will own 49%. Closing of the transaction is expected in the second half of 2023, subject to certain conditions, including approval from Brookfield Business Partners unit holders and regulatory approvals.
So who better to explain the thinking behind the deal than Cameco President and CEO Tim Gitzel, who says why he thinks the timing is right for the deal and how it fits into what he sees as the future growth of the global nuclear energy sector.
He also outlines the current state and outlook for the uranium/fuel business, reflects on the impact of the Russian war with Ukraine on the global nuclear industry and says that with new technological developments nuclear has an increasingly crucial role to play in efforts to combat climate change.
In the news round-up for the month Claire Maden covers the start of fuel loading at Vogtle 3, the USA's first completely new nuclear unit for more than three decades, while Warwick Pipe outlines the latest state of play in Germany and the decision to rethink the end of year shutdown plans for its final nuclear power plants. We also hear what Greta Thunberg and Bill Gates have been saying about nuclear energy.
Key links to find out more:
World Nuclear News
Closing nuclear in Germany while increasing coal 'a mistake', says Greta Thunberg
IAEA interview with Bill Gates
Pandora's Promise, official website
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Episode credit: Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production