Westinghouse Completes acquisition of 50% of Tecnatom

14 March 2022

US-based Westinghouse Electric Company stepped up its long-term partnership with Tecnatom on 10 March after receiving all regulatory approvals for the 50% acquisition of shares previously owned by Iberdrola and Naturgy, as announced in October 2021.

Westinghouse said that the acquisition "enhances its growth strategy and increases its global nuclear capabilities, especially in nuclear refuelling, engineering and digital services." Tecnatom will be managed as a joint venture between Endesa and Westinghouse.

Patrick Fragman, Westinghouse President and CEO, said: “We are looking forward to further strengthen our relationship with Endesa. Tecnatom is very well positioned in the nuclear industry globally, especially in the refuelling maintenance, engineering, and digital services. Its innovative digital solutions will enable significant opportunities to drive Westinghouse’s overall growth strategy."

He added: "Tecnatom’s competencies and technologies will further expand Westinghouse’s capabilities to support our clients worldwide in designing and operating their plants, so that these plants can safely supply affordable and reliable clean electricity and contribute to energy security.”

Spanish engineering company Tecnatom currently employs approximately 850 people and has provided services to the nuclear sector since 1957. Westinghouse and Tecnatom have collaborated for many years, including on AP1000 technology.

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