The European Commission has approved the changes to the contracts on the expansion of Hungary’s sole nuclear power plant Paks, allowing for the project to be speeded up, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said.
The changes to the contracts and the European Union‘s approval will make it possible for the plant’s new units to begin operating by the beginning of the next decade, with the project applying the strictest nuclear regulations.
The Hungarian Government reached an agreement with Russian and Rosatom in April on the changes to the contracts, but these could only enter into force after being approved by the EU.
In January 2014, the Hungarian Government signed a deal with Russia`s Rosatom, aiming to increase power plant output, from the current 2,000 MW to 4,400 MW by adding two more reactors. Under the agreement, Russia will provide a 10 billion euros loan for the construction of a new unit in the existing NPP, which is around 80 % of the estimated construction cost. According to the initial plan, the first unit was supposed to become operational in 2023. The latest estimates put the start of production at new units in 2029-2030.
