Hungary proposes amendments to Paks nuclear plant contract with Rosatom
On November 19, 2024, the Hungarian government introduced a bill to its parliament seeking to amend the existing contract with Russia’s Rosatom for the expansion of the Paks nuclear power plant. The Paks expansion, valued at €12.5 billion ($13.2 billion), includes two 1.2 GW VVER reactors and is critical for Hungary’s energy strategy. The plant currently supplies 40% of the country’s electricity. Delays stemming from permitting challenges, the Covid-19 pandemic, and sanctions on Russia have…