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Cameco Corp
Symbol CCO
Shares Issued 398,440,837
Close 2022-10-13 C$ 30.77
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Globe says Cameco, Brookfield bet on nuclear resurgence

2022-10-13 07:57 ET - In the News

Also In the News (C-BBU) Brookfield Business Partners LP
Also In the News (C-BEPC) Brookfield Renewable Corp

The Globe and Mail reports in its Thursday, Oct. 13, edition that this week Cameco and Brookfield Renewable Partners announced they had joined up to acquire nuclear reactor vendor Westinghouse Electric. The Globe's Emma Graney and Matthew McClearn write that it is the latest indication of growing optimism that reactors could play a large role in a looming energy transition. The Westinghouse deal's backers are counting on an enlarged role for nuclear power. Brookfield transition investing head Mark Carney declared in a statement that any path to net-zero greenhouse gas emissions will drive "significant growth in nuclear power." Such sentiments echo those of U.S. Environmental Protection Agency administrator Michael Regan, who recently said nuclear technology will be essential to meet decarbonization goals. If so, The Globe says it would be a welcome reversal for an industry that has suffered gradual decline for decades. The Globe says energy crises in several countries are rekindling interest in nuclear power. The German government has recently drafted a law to keep two nuclear plants on standby until April. Three others that are already switched off could be put into service again.

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