French tycoon Dominique Louis is doubling down on atomic power, betting that global warming will foster a nuclear renaissance. Three months ago, his nuclear engineering group Assystem SA sold 61 percent of its automotive and aircraft business for 400 million euros ($472 million). Louis used the proceeds to buy back some of the company’s shares and acquire 5 percent of French nuclear reactor maker Areva NP for 125 million euros. While France is cutting its nuclear dependence, the Assystem chairman and chief executive officer believes atomic energy will be back in vogue as the cost of climate change mounts. Louis expects Electricite de France SA to build 20 to 30 new reactors to partially replace its aging fleet as intermittent supply and local opposition to wind farms limits renewable capacity.
Bloomberg 18th Dec 2017 read more »