- MVM Paks Nuclear Power Plant - Units 5 and 6 (2,400MW).
- Hungary's sole nuclear power plant MVM Paks is being expanded with the construction of two new units (5 and 6) which will have a capacity of 1,200MW each.
- MVM, Hungary's national energy company, and Russia have agreed a deal for the project which sees the latter provide €10 billion in financing and its state-controlled nuclear power plant developer, Nizhny Novgorod Engineering Company Atomenergoproekt (NIAEP-ASE), awarded the EPC contract.
- The two new units will have new Russian-built VVER-1200 nuclear reactors installed.
- Hungary will retain ownership of the new units and will repay Russia's loan for the project over a period of 21 years with revenue from Paks.
- Hungary's investment in the project was investigated by the European Commission on the grounds it may have contravened EU state aid rules, but the Commission approved the deal in March 2017.
- Paks currently has four units with a capacity of 500MW each, and produces approximately 50% of Hungary's domestic electricity.
- Construction of Units 5 and 6 is expected to begin in 2018 and 2019 respectively, and both are scheduled to be in operation by 2026.
Ben Naylor - Regional editor