The first concrete has been poured for the foundation of Hungary’s Paks 2 nuclear power plant. This event officially marks the commencement of construction on the project, overseen by Russia’s state nuclear corporation, Rosatom. The Paks 2 facility will consist of two reactors, each with a capacity of 1.2 GW, enhancing Hungary’s energy independence.
Significance of Paks 2
The concrete pouring is a significant milestone that transitions the project to ‘under construction’ status as defined by International Atomic Energy Agency (IAEA) standards. Peter Szijjárto, Hungary’s Minister of Foreign Affairs and Trade, highlighted that the Paks 2 project will enable Hungary to source approximately 70% of its electricity from nuclear power, thus alleviating reliance on fluctuating international energy markets.
Financial Aspects and Timeline
The total cost of the Paks 2 initiative is estimated at EUR 12.5 billion, with Russia approving a EUR 10 billion state loan to support the project. Significant construction work is expected to take place over the coming years, including:
- 2023: Start of construction with the first concrete pour for Unit 5.
- 2026: Excavation work will begin for Unit 6.
Historical Context
Hungary and Russia formalized their collaboration on the Paks 2 project through an intergovernmental agreement in 2014. IAEA Director General Rafael Mariano Grossi attended the concrete pouring ceremony, noting that the project has encountered numerous challenges but now represents a significant achievement in nuclear cooperation and energy sustainability.
Technical Features of Paks 2
The Paks nuclear power plant is situated approximately 100 kilometers southwest of Budapest and currently operates four Russian-designed VVER-440 reactors that entered service in the 1980s. The Paks 2 project will introduce two VVER-1200 reactors, boasting a projected operating life of 60 years, which could be extended by an additional 20 years.
Regulatory Approval
The Hungarian Atomic Energy Authority (HAEH) granted the necessary permits for the initial concrete work for Unit 5 in November 2025, as well as for constructing the nuclear island. An important building permit was also secured in 2022, allowing the project to proceed.
The Paks 2 development represents a pivotal step in Hungary’s energy policy, embracing nuclear energy amid shifting attitudes towards its viability and competitiveness in the global market.
