Saskatchewan’s journey deeper in the nuclear power cycle took a big step forward with the announcement that Cameco had partnered up with Brookfield to buy Westinghouse in a deal worth nearly $8 billion.
Cameco will hold 49 per cent of the new partnership, giving it a major stake in one of the world’s biggest nuclear power companies.
It also gives the Saskatoon uranium producer a significant footprint in the downstream operations of the nuclear power industry at a time when this alternative is rapidly earning favour in a world looking to contain climate change.
Moving beyond primary production has long been a challenge for Saskatchewan’s business community – whether in agriculture or energy – where we have traditionally supplied raw materials which are processed in other regions. Now, through Cameco, Saskatchewan will be a player from uranium production to enhancement and through to power generation, completing the cycle.
The company’s partner – Brookfield – has built a powerful reputation in the clear energy arena. Combining the two will, in the words of the companies, build a powerful platform for strategic growth across the nuclear sector.
