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Hungary gets agreement to delay Paks II loan repayment

Hungary gets agreement to delay Paks II loan repayment

Hungary will start repaying the Russian loan for the Paks II project in 2031, five years later than originally agreed, Hungary's Finance Ministry has announced. This amendment to the intergovernmental agreement for the EUR12.5 billion (USD15.1 billion) project means that income from the new nuclear power plant can help repay the loan, but it does not change the rate of interest on the loan nor the option to pay it off early, it added.

New Nuclear 30 April 2021

Hungary and Poland plan nuclear to replace coal

Hungary and Poland plan nuclear to replace coal

Hungary is now the sixth European country to bring forward its coal phaseout plan, announcing that it will shut its last remaining coal plant in 2025. Meanwhile Poland says its first nuclear power unit will be built in Gdansk and the second one probably at the site of its Belchatów coal plant.

Energy & Environment 05 March 2021

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French-German-Russian firms plan work for Hungary's Paks II project

Austria fails to turn neighbours against nuclear power

Hungarian minister highlights importance of nuclear energy

Paks II construction licence application submitted

Rusatom Service, MVM Group create European Power Services JV

IAEA endorses Hungarian university programme

Hungary's Paks II project receives construction approval

Hungary and Poland plan nuclear to replace coal

Hungary gets agreement to delay Paks II loan repayment

TVEL loads new design of fuel into Paks unit 3

TVEL loads new design of fuel into Paks unit 3

TVEL, the nuclear fuel manufacturer subsidiary of Russia's Rosatom, has loaded a batch of fresh fuel, including 18 fuel bundles of its new modification, into unit 3 of the Paks nuclear power plant in Hungary. The new fuel will be introduced at all four units operating at Paks, with the number of new-modification bundles in each refuelling to be increased gradually.

Uranium & Fuel 14 December 2020

Hungary's Paks II project receives construction approval

Hungary's Paks II project receives construction approval

The Hungarian Energy and Public Utilities Regulatory Authority has approved Atomerőmű Zrt's plan to construct two VVER-1200 reactors at the existing Paks nuclear power plant site. A construction licence for the Paks II project is required from the nuclear regulator, the Hungarian Atomic Energy Authority, before building work can start.

New Nuclear 23 November 2020

IAEA endorses Hungarian university programme

IAEA endorses Hungarian university programme

Budapest University of Technology and Economics has become the seventh university in the world to offer a programme as part of the International Nuclear Management Academy, which is endorsed by the International Atomic Energy Agency. During a webinar hosted by the IAEA last week, Professor Attila Aszódi, BME programme executive, described the importance of this achievement.

Regulation & Safety 19 October 2020

TVEL completes development of modified fuel for Paks

TVEL completes development of modified fuel for Paks

The development and validation of modified fuel for use in the four VVER-440 reactors at the Paks nuclear power plant in Hungary has now been completed, Rosatom's nuclear fuel manufacturer subsidiary TVEL announced today. The first consignment of the modified fuel is scheduled to be delivered to the Paks plant later this year.

Uranium & Fuel 13 October 2020

TVEL supplies fuel for Hungarian research reactor

TVEL supplies fuel for Hungarian research reactor

TVEL, the fuel manufacturer subsidiary of Russia's Rosatom, has supplied fuel for the Budapest Research Reactor in Hungary. The VVR-M2 fuel assemblies - manufactured by the Novosibirsk Chemical Concentrates Plant - were supplied under a contract signed in 2019 with the Centre for Energy Research of Hungarian Academy of Sciences.

Uranium & Fuel 15 September 2020

Uzbek, Hungarian ministers discuss cooperation in nuclear energy

Uzbek, Hungarian ministers discuss cooperation in nuclear energy

The leadership of the Ministry of Energy of Uzbekistan met with a Hungarian delegation to Tashkent last month, during which they discussed Hungary's willingness for partnership in the energy sector.

Nuclear Policies 12 August 2020

Rusatom Service, MVM Group create European Power Services JV

Rusatom Service, MVM Group create European Power Services JV

Rusatom Service and MVM Group have formed a joint venture in Hungary to provide service and maintenance to nuclear industry facilities, conventional sources of power generation, renewable energy and oil and gas in Europe, they announced yesteday. The new company, European Power Services Ltd, will start work at the Paks nuclear power plant.

Corporate 10 July 2020

Paks II construction licence application submitted

Paks II construction licence application submitted

The construction licence application for two VVER-1200 reactors at the existing Paks site was submitted to the Hungarian Atomic Energy Authority yesterday by Paks II Limited. The regulator said it has 12 months in which to make a decision on the application, but this period can be extended by three months if required.

New Nuclear 01 July 2020