Hungary: Rosatom to invest 10 billion Eur in NPP Paks2

17. November 2014. / SEE Energy News

Russians plan to invest about 10 billion EUR in Hungary nuclear power plant “Paks 2”. These are the two new reactors that will be located near the Croatian border. Hungarian authorities have given the green light for the construction of the plant, despite the fact that the project was not approved by the European Union.

Under the agreement, the Russian giant “Rosatom” will build a new 2,000 megawatt. The plan is that the reactors would be involved in the work in 2023. The Government believes that the project will significantly strengthen economic development and create up to 10,000 new jobs. However, critics argue that Hungary is completely dependent on Russia, which is already a major supplier of this country when it comes to gas and oil. What also creates controversies about the project is that many of the contract’s details are not publicly known.

Hungary provides about 80 percent of its gas imports from Russia, and recently signed a contract worth 10 billion EUR, with Russian state giant for atomic energy “Rosatom” on the extension of the Hungarian nuclear power plant “Paks”, the main electricity producer in the country.
Existing nuclear power plant “Pax” is the only active nuclear power plant in Hungary and covers about 40 percent of total electricity consumption in the country. It is located 100 km from Budapest, and it was built under the Soviet project. The plant has 4 reactor, with power of 4 x 500 MW.

There is a combined gas power plants “Csepel 2” in Hungary, with a capacity of 400 MW, which meets about 6 percent of total electricity consumption in the country and it is owned by the Swiss company Alpiq. The plant is a modern facility that can work both on oil and gas.

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