Hungary has reached an agreement with the Euratom Supply Agency (ESA) on the supply of nuclear fuel for its Paks nuclear new-build project.
In January 2014, Hungary had signed an agreement with Russia, which would finance up to 80% (or €10bn) of the project, build two 1,200 MW reactors on a turnkey basis and supply nuclear fuel over a 20-year period while handling and storing spent fuel elements in Russia. Euratom had refused to approve Hungary's plans to import nuclear fuel exclusively from Russia; the European Commission backed Euratom when Hungary appealed against the decision. Under the terms of the Hungary-Euratom agreement, Russia will supply fuel for the project for the first ten years, instead of 20 years. The European Commission is also reviewing the project to assess if it meets EU rules on state aid. Construction of the Paks expansion (2.4 GW) is expected to start in 2018, with commissioning scheduled in 2025-2026.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.