Hungary’s Paks II nuclear project is entering a critical phase this November, when Rosatom, the Russian state-owned nuclear company, is scheduled to pour the first concrete for two new 1,200 MW reactors. This milestone marks the transition from preparatory groundwork to full-scale construction and is widely regarded in the nuclear industry as the official start of building activities.
The expansion of Hungary’s only nuclear power plant was initially approved by Parliament in 2009 and formalized through a 2014 agreement with Russia, which provides up to €10 billion in long-term financing within the total investment framework of €12.5 billion. Construction permits were issued by the Hungarian Atomic Energy Authority in 2022, and key contract revisions received approval from the European Commission in 2023. While construction was originally planned to begin in 2024, the timeline has since been revised, with work now fully scheduled to proceed. The project’s construction is being carried out jointly by Russian contractor Titan-2 and Hungarian firm Bayer.
As energy demand continues to rise across Europe and Rosatom’s global influence remains in focus, Paks II is moving from years of planning and preparation into the tangible reality of new nuclear generation capacity.
