Nuclear Fights Loss of Credibility in Europe, Westinghouse Says
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Europe’s nuclear industry must fight to regain the trust of investors after delays and cost overruns at projects in Finland and France dealt a blow to its reputation, said Westinghouse Electric Co.’s European chief.
“Banks, investors, the whole financial community finds it difficult to trust the credibility of nuclear projects,” Yves Brachet, the chief executive officer for Europe, Middle East and Africa, said yesterday in an interview at Bloomberg’s Prague office. “The entire industry is suffering from the Olkiluoto effect,” he said, referring to construction problems at the world’s biggest nuclear reactor in Finland, which is about seven years behind original schedule.