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French Tycoon Bets Global Warming Will Spur Nuclear Comeback

  • Assystem acquiring 5% of French reactor maker Areva NP
  • Renewables alone can’t replace coal, Dominique Louis says
Power transmission lines hang from electricity pylons as the cooling towers of Electricite de France SA's (EDF) nuclear power plant emit vapor in Bugey, France, on  Jan. 5, 2014.

Photographer: Balint Porneczi/Bloomberg

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French tycoon Dominique Louis is doubling down on atomic power, betting that global warming will foster a nuclear renaissance.

Three months ago, his nuclear engineering group Assystem SA sold 61 percent of its automotive and aircraft business for 400 million euros ($472 million). Louis used the proceeds to buy back some of the company’s shares and acquire 5 percent of French nuclear reactor maker Areva NP for 125 million euros.