AI SUMMARY – What you should know before reading
- Hungary has officially launched construction of the Paks II nuclear power plant.
- The project is being built with Russia’s Rosatom.
- Total costs are estimated at €12.5 billion.
- The project has become a geopolitical flashpoint within the EU.
Main Article
Hungary has formally launched construction of the Paks II nuclear power plant, moving forward with one of the most controversial energy projects in Europe despite objections from the European Union and the United States. The ceremonial pouring of the first concrete in the town of Paks marked the transition from planning to full-scale construction.
Foreign Minister Péter Szijjártó said the project would go ahead regardless of political pressure from abroad. He described Paks II as essential to Hungary’s long-term energy security and economic stability, arguing that nuclear power provides reliable, low-emission electricity.
The existing Paks nuclear facility supplies roughly one-third of Hungary’s electricity. The new reactors, using Russian-designed VVER-1200 technology, are intended to replace aging units and ensure stable power generation for decades to come.
The project is being implemented by Russia’s state-owned nuclear company Rosatom. Its estimated cost of €12.5 billion will be largely financed by a Russian state loan covering 80 percent of the budget, with Hungary providing the remainder.
Paks II has long been politically sensitive. The agreement was signed in 2014 by Hungarian Prime Minister Viktor Orbán and Russian President Vladimir Putin. Since then, critics have warned that the project increases Hungary’s dependence on Russia at a time of heightened geopolitical tension.
Hungarian officials counter that nuclear energy is a strategic necessity and that the project complies with international safety standards. The presence of International Atomic Energy Agency Director General Rafael Grossi at the launch was cited as evidence of international oversight.
As Europe debates its energy future amid climate goals and security concerns, Paks II has emerged as a symbol of Hungary’s insistence on national energy sovereignty. Whether the project ultimately strengthens or isolates Budapest within the EU remains an open question.