Cameco buys stake in Brookfield's Westinghouse Electric, enters nuclear-power sector

This is the latest indication that big investors see nuclear power as a key player in the climate change fight. Read on

Saskatoon, Sask.-based Cameco will own 49 per cent of the company, and Toronto-based Brookfield Renewable will own a 51 per cent stake, according to a statement Tuesday. Brookfield Business Partners had bought Westinghouse in 2018 as part of the nuclear company’s bankruptcy reorganization.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.

“This is our entry into the nuclear-power segment, which is we believe a critical technology for global grids to achieve net zero,” Connor Teskey, chief executive officer of Brookfield Renewable, said in an interview Tuesday.Article content Cameco, North America’s largest uranium miner, struggled for years following the Fukushima disaster in Japan that led to the shuttering of most of the country’s nuclear reactors as well as prompting nations around the globe to reconsider nuclear power. While the company’s shares have surged by about 190 per cent since the beginning of 2020, chief executive Tim Gitzel said earlier this year that he wouldn’t soon crank up production to chase “mythical” market demand.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

nationalpost /  🏆 10. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin [BTC] holders anticipating a bear market floor should read thisBitcoin [BTC] prices have been unusually volatile in recent weeks. This can be considered in contrast with the broader financial markets (equities, credit, and currency markets) that have been significantly volatile within the same period, as per Glassnode’s latest report. While there were speculations that BTC investors sought to establish a bear market floor, Glassnode, […]
Read more »

Thunder Bay man charged with first degree murderRead the full story and comment on Tbnewswatch.com
Read more »

Meet the candidates (Red River): James Dean MarshRead the full story and comment on Tbnewswatch.com
Read more »

A Thunder Bay family holds a toy drive for the hospital paediatric unitA Thunder Bay family holds a toy drive for the hospital paediatrics unit
Read more »

Meet the candidates (Red River): Brad FordRead the full story and comment on Tbnewswatch.com
Read more »

Meet the candidates (Red River): Kathy SuutariRead the full story and comment on Tbnewswatch.com
Read more »