Plans to expand nuclear capacity in Hungary are facing renewed political and strategic scrutiny following the election victory of Péter Magyar and his Tisza party. The incoming government has announced a comprehensive review of the Paks II nuclear project, raising fresh questions about the future of one of the country’s most significant long-term energy investments.
The project, largely financed through a Russian state loan, involves the construction of two VVER-1200 reactors and has been under development for several years. Key early milestones have already been achieved, including the pouring of first concrete in early 2026, while grid connection is currently planned for the early 2030s. It remains the only Russian-led nuclear construction project currently underway within the European Union.
In response to the announced review, Rosatom has stated its readiness to engage with Hungary’s new administration on all aspects of the project. CEO Alexey Likhachev emphasized that the development has been carried out transparently and with the involvement of international experts, including oversight aligned with International Atomic Energy Agency (IAEA) standards.
Supporters of the project argue that its completion would significantly strengthen Hungary’s energy security, potentially enabling nuclear power to account for a dominant share of domestic electricity generation and even create export potential. However, the incoming government now faces a difficult balancing act between its campaign promise to reassess prior agreements and the financial and strategic consequences of any modification or cancellation.
The existing Paks Nuclear Power Plant already plays a central role in Hungary’s electricity system, operating four reactors built in the 1980s. The planned expansion would add two modern units at the same site, further increasing installed capacity and reinforcing the long-term role of nuclear energy in baseload supply.
The situation is further complicated by potential contractual penalties in the event of project cancellation, as well as Hungary’s continued need for stable baseload generation capacity. Analysts note that Rosatom’s willingness to discuss technical and financial parameters may reflect both confidence in the project’s legal structure and an effort to limit prolonged political uncertainty surrounding its future.
