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energy and resource

Westinghouse confidentially files for IPO amid US-backed nuclear revival

Illustration accompanying article: Westinghouse confidentially files for IPO amid US-backed nuclear revival
  • Westinghouse Electric confidentially filed in July for an initial public offering, the Wall Street Journal reported Monday, citing a turnaround fueled by AI-driven electricity demand and renewed federal backing for new reactors.
  • Chief Executive Dan Sumner said "there really is no credible path to the AI build-out and energy security without nuclear."
  • The U.S. government holds an option to acquire a 20% stake in Westinghouse under an $80 billion federal push for new reactors, contingent on the company reaching a $30 billion market valuation and securing orders by 2029.
  • Westinghouse's reversal follows its 2017 bankruptcy under Toshiba, triggered by cost overruns at four planned reactors in the southeastern United States; the two Vogtle units in Georgia ultimately cost about $35 billion and came online seven years behind schedule.
 2026-08-31 · 4 MIN READ

Nepal floods leave 900 hydropower workers unaccounted, 700 MW offline

Nepal floods leave 900 hydropower workers unaccounted, 700 MW offline
  • Workers shoveled thick mud from a flood-ravaged power station in Nepal's Dhading district that supplies electricity to more than 20,000 people.
  • The Independent Power Producers' Association of Nepal reported up to 900 workers unaccounted for from a dozen hydropower projects, with hundreds believed trapped in tunnels.
  • Last week's catastrophic floods left more than 900 people dead and 4,700 missing across Nepal and China combined.
  • The catastrophic floods knocked an estimated 700 megawatts of hydropower offline — about 10% of Nepal's total power capacity.
 2026-08-31 · 4 MIN READ
EU gas stores enter winter at 13-year low as UK storage sits nearly empty