Romania: INVL Renewable Energy...

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on...

Croatia: Summary of Guarantees...

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold...

Bulgaria: TPP Maritsa 3...

Bulgarian thermal power plant Maritsa 3 reported a net loss of €2.7 million...

Bulgaria: Bobov Dol thermal...

The Bulgarian thermal power plant Bobov Dol posted a net profit of approximately...
Supported byClarion Energy
HomeSEE Energy NewsHungary: U.S. lifts...

Hungary: U.S. lifts sanctions on Paks nuclear expansion, paving way for full-scale construction

Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó has announced that the United States has officially lifted sanctions that had been obstructing Hungary’s plans to expand its Paks nuclear power plant. Originally imposed by the Biden administration, the restrictions have now been reversed, reverting to a Trump-era policy stance.

Minister Szijjártó emphasized that the expansion of the Paks nuclear facility is critical for ensuring Hungary’s long-term energy security and maintaining progress in reducing household utility costs. With sanctions no longer hindering the project, construction on-site is now set to accelerate. Essential components for the new reactors are already being produced in Russia and France.

Had the sanctions persisted, Hungary faced the risk of significant challenges in securing its future electricity supply. The Hungarian government remains actively engaged in discussions with the European Union to obtain broader allowances for importing Russian oil and gas, highlighting its ongoing effort to diversify energy sources while preserving low consumer costs.

In a parallel development, Hungary and the United States have begun exploring closer energy sector cooperation. In March, Minister Szijjártó held talks with U.S. Secretary of State Marco Rubio focused on potential nuclear partnerships. Hungary is also in discussions with Rolls-Royce regarding the possible deployment of small modular reactors.

Earlier this year, Hungary formally requested an exemption from the U.S. sanctions. While experts noted that the restrictions may not have completely halted the Paks project, they likely caused delays in securing critical equipment and technologies. With the sanctions now lifted, the path is clearer for Hungary to pursue its nuclear ambitions.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Romania: INVL Renewable Energy Fund I secures €29.3 million loan for 71 MW solar project

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on renewable energy projects, has obtained a €29.3 million loan from Kommunalkredit Austria to finance the construction of a 71 MW solar power plant in Dolj County,...

Croatia: Summary of Guarantees of Origin auctions for electricity held on 29 July

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold in auctions organized by HROTE and ENNA Next. These auctions were conducted in five parallel sessions via CROPEX’s IT trading platform, covering GOs from wind, biogas,...

Bulgaria: TPP Maritsa 3 narrows loss to €2.7 million in first half of 2025

Bulgarian thermal power plant Maritsa 3 reported a net loss of €2.7 million in the first half of 2025, a significant improvement compared to a €11.5 million loss during the same period in 2024. The company’s total revenues fell to...
Supported byVirtu Energy
error: Content is protected !!