https://sputniknews.in/20250701/paks-ii-nuclear-power-plant-may-be-ready-by-mid-2030s-hungarian-foreign-minister-9380870.html
Paks II Nuclear Power Plant May Be Ready by Mid-2030s: Hungarian Foreign Minister
Paks II Nuclear Power Plant May Be Ready by Mid-2030s: Hungarian Foreign Minister
Sputnik India
New units at Hungary's Paks II nuclear power plant may be ready by the mid-2030s, and the facility could then cover 70% of the country's electricity needs... 01.07.2025, Sputnik India
2025-07-01T11:24+0530
2025-07-01T11:24+0530
2025-07-01T11:24+0530
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On Sunday, Szijjarto said that Washington had lifted sanctions on investments into the Paks 2 NPP, enabling construction to resume. Russian state nuclear corporation Rosatom told Sputnik that the exemption from US financial sanctions of a number of Russian banks and insurance companies related to nuclear energy will allow the company to more intensively implement this project together with its Hungarian partners.The minister noted that after the project's implementation, Hungary will be able to import approximately 3.5 billion cubic meters less natural gas and reduce carbon dioxide emissions by 17 million tonnes, as well as become more energy independent.The Paks NPP is Hungary's only nuclear power plant. In late 2014, Russia and Hungary signed an agreement on the construction of two Generation III+ VVER 1200 power units at Paks, in addition to the existing four VVER-440 reactors, which generate almost 50% of Hungary's electricity. Russia agreed to give Hungary a loan of up to 10 billion euros ($11.78 billion) to finance the construction. A license for the construction of the power units has already been issued.
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Paks II Nuclear Power Plant May Be Ready by Mid-2030s: Hungarian Foreign Minister
New units at Hungary's Paks II nuclear power plant may be ready by the mid-2030s, and the facility could then cover 70% of the country's electricity needs, Hungarian Foreign Minister Peter Szijjarto said following the US decision to lift sanctions related to the project.
On Sunday, Szijjarto said that Washington had lifted sanctions on investments into the Paks 2 NPP, enabling construction to resume. Russian state nuclear corporation Rosatom told Sputnik that the exemption from US financial sanctions of a number of Russian banks and insurance companies related to nuclear energy will allow the company to more intensively implement this project together with its Hungarian partners.
"Therefore, investments in Paks II are now receiving a new impetus, so that from the middle of the next decade we will be able to cover 70% of Hungary's electricity demand through our own nuclear production," Szijjarto said at a press conference on Monday.
The minister noted that after the project's implementation, Hungary will be able to import approximately 3.5 billion cubic meters less natural gas and reduce carbon dioxide emissions by 17 million tonnes, as well as become more energy independent.
The Paks NPP is Hungary's only nuclear power plant. In late 2014, Russia and Hungary signed an agreement on the construction of two Generation III+ VVER 1200 power units at Paks, in addition to the existing four VVER-440 reactors, which generate almost 50% of Hungary's electricity. Russia agreed to give Hungary a loan of up to 10 billion euros ($11.78 billion) to finance the construction. A license for the construction of the power units has already been issued.
