Global Energy News Roundup: January 4

The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday and is available on Twitter via @forumonenergy

Brookfield Business Partners Buys Westinghouse

Brookfield Business Partners, a unit of a Canadian infrastructure investor named Brookfield Asset Management will buy Westinghouse Electric for about $4.6 billion. Brookfield will acquire 100% of Westinghouse, which filed with the US courts for Chapter 11 bankruptcy protection in March 2017. Brookfield Business Partners CEO Cyrus Madon stated that “Westinghouse is a high-quality business that has established itself as a leader in its field, with a long-term customer base and a reputation for innovation…We look forward to bringing our significant expertise and reputation as a long-term owner and operator of critical infrastructure in the US and globally, as well as our deep facilities management capabilities, to enhance the company’s position as a leading global infrastructure services provider to the power generation industry.”

Source: Axios, World Nuclear News

China Begins Construction of First Fast Reactor

China has begun building a pilot fast reactor at Xiapu in Fujian province. Last week, the first concrete was poured for the reactor’s basemat. “At a ceremony to mark the start of construction, CNNC chairman Wang Shoujun described the project as a major national nuclear science and technology project. He said it is of great significance for realizing the closed nuclear fuel cycle, promoting the sustainable development of nuclear energy in China and promoting the development of the local economy.” The reactor is expected to commence commercial operation by 2023.

Source: World Nuclear News

Two Reactors to Be Decommissioned in Japan

Kansai Electric Power Co. has announced that it has decided to permanently close two nuclear reactors in Japan. It would have required close to $900 million in order to meet the safety standards required by Japan’s Nuclear Regulation Authority (NRA). The two reactors are No. 1 and No. at the Oi facility in central Japan, and both came on line in 1979.  The decommissioning will be the largest in Japan since the Fukushima plant accident.

Source: Power Magazine