Westinghouse, Seaspan sign MoU to expand nuclear tech in Canada

(Reuters) - Nuclear power company Westinghouse Electric and Seaspan ULC said on Thursday they have signed a memorandum of understanding to help expand nuclear projects in Canada and around the world.

With nuclear power garnering renewed interest as a cleaner energy source, countries such as Italy, United Kingdom, China and the United States are looking into nuclear technology firms such as Westinghouse to meet their carbon emission goals.

Westinghouse said Seaspan, which provides services such as shipbuilding and maintenance, has the potential to manufacture key components, including pipe spools and steel structures, used in its nuclear reactors.

Seaspan's experience in delivering complex manufacturing projects aligns well with the requirements of large-scale capital projects such as nuclear reactors, Westinghouse said in a statement.

Westinghouse, which is backed by Cameco and Brookfield Renewable Partners, said the deal strengthens its commitment to further develop Canada's nuclear supply chain to support its global fleet of advanced reactors.

The company develops the AP1000 reactor technology and the AP300 small modular reactors, which are smaller-sized nuclear reactors touted as being more cost-effective and quicker to deploy than the full-sized models.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Shreya Biswas)