What's going on?

Westinghouse Electric, an American manufacturer of nuclear power plant equipment, announced this week that it�s being bought in a deal worth nearly $8 billion.

What does this mean?

Nuclear�s been the black sheep of the energy family for years, not least because safety concerns and overruns in high-profile projects have scared investors off. But mounting worries over climate change and the security of energy during war have made the nuclear industry � capable of producing carbon-free power every hour of the day, no matter the weather � a lot more appealing.

That�s not the only good news for Westinghouse Electric: the US company, which makes the tech used in half of the world�s nuclear reactors, has just been bought by Brookfield Renewable Partners (one of world�s biggest clean energy investors) and Cameco (North America�s biggest uranium miner) in a deal worth a tidy $8 billion. Not too shabby for a company that only emerged from bankruptcy four years ago…

Why should I care?

Zooming in: Opportunities aplenty.
The future is full of promise for Westinghouse. The West is being pushed to find new suppliers for over 30 reactors that currently use Russian technology � a plum opportunity for the American firm to ply its trade. On top of that, the European Union declared nuclear power investments climate-friendly earlier this month, while the International Energy Agency has said nuclear energy production needs to double by 2050 to hit net-zero targets. No wonder some analysts think the industry�s on the cusp of a price boom that could rival the flush days of the 1970s oil crisis.

The bigger picture: Keep your fingers crossed.
The price of uranium is reflecting the world�s zest for nuclear power: the metal hit over $50 a pound last month, and Bank of America estimates it could break $70 next year. Still, these outlooks are fragile: another nuclear accident could send the industry back to square one � a real risk given that war-torn Ukraine houses 15 reactors.