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May 13, 2019

PM Orbán pushes forward with Paks nuclear plant expansion

PM Orbán said the expansion will significantly increase Hungary’s energy supply security and independence while also contributing to the country achieving its climate protection goals

Prime Minister Viktor Orbán met Alexey Likhachev, CEO of the state-owned Russian nuclear energy firm Rosatom on Sunday.

According to MTI, talks focused on the progress of the current capacity expansion of Hungary’s only nuclear plant, Paks.

The contract signed between Hungary and Rosatom gives the deal a value of EUR 12 billion, 80 percent of which will be covered by a Russian credit line of EUR 10 billion.

When completed, the upgrade will increase the nominal capacity of the Paks plant to 1,200 MW from the current 500 MW. Depending on actual consumption, Paks supplies about 35 to 40 percent of the country’s electricity needs.

After the meeting PM Orbán said the expansion will significantly increase Hungary’s energy supply security and independence while also contributing to the country achieving its climate protection goals, therefore it is of national interest.