Subscribe free to our newsletters via your
. Nuclear Energy News .

Hungary to start Russian-funded nuclear plant expansion in 2018
by Staff Writers
Budapest (AFP) Dec 09, 2014

Hungary announced Tuesday it will start work on two new reactors at its only nuclear power plant in Paks in 2018, despite speculation that Western sanctions may put the largely Russian-funded project at risk.

Russia's Atomenergoproekt, a subsidiary of state nuclear company Rosatom, signed on Tuesday two deals with Paks in Budapest on the plant's design, operation and maintenance, the Hungarian government commissioner for the project, Attila Aszodi, told journalists.

"Construction is expected to start in 2018," he added, insisting that financing for the 12.5-billion-euro ($15.5 billion) project was not in jeopardy.

Moscow is to supply the lion's share of the funds, in the form of a 10-billion-euro loan, but has also faced biting Western sanctions over the crisis in Ukraine and falling oil prices, which have exacerbated its economic woes.

"The Russian side made it clear to us that the necessary financial resources are ready, the current financial situation does not affect this project, it is already a part of their 2015 budget," Aszodi said.

The rest of the financing will come from Hungary's state budget.

The expansion of the Paks plant, some 100 kilometres (60 miles) south of Budapest, will add two 1,200-megawatt reactors to the existing four, more than doubling its capacity.

The first reactor is to come into operation in 2023.

Critics see the deal, which was signed by Moscow and Budapest in January, as another example of Hungary's Prime Minister Viktor Orban cosying up to Russian President Vladimir Putin.

Budapest on the other hand says the project is aimed at securing energy supplies.

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only


Related Links
Nuclear Power News - Nuclear Science, Nuclear Technology
Powering The World in the 21st Century at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Iran dismisses US concerns over suspect reactor purchases
Tehran (AFP) Dec 09, 2014
A senior Iranian nuclear official on Tuesday dismissed US concerns over the purchase of new components reportedly destined for a controversial reactor. Behrouz Kamalvandi, spokesman for the Atomic Energy Organisation of Iran (AEOI), said he had "no information on (the reported) purchase" of illicit parts for the Arak heavy water nuclear complex. Online magazine Foreign Policy reported th ... read more

Central America's new coffee buzz: renewable energy

Boeing completes test flight with 'green diesel'

Sweet Smell of Success: Researchers Boost Methyl Ketone Production

Single-atom gold catalysts may enable cheap output of fuel and chemicals

New technique offers spray-on solar power

First Public EV charging station in Australia powered by a solar car park structure

Light propagation in solar cells made visible

UNSW converts sunlight to electricity at 40 percent efficiency

Scotland claims leads in low-carbon agenda

Environmental group: U.S. tax credit for wind energy not enough

Virginia mulls offshore wind energy

AREVA maintenance contract for five years renewed in the North Sea

US sets clean-energy trade mission to China

Norway increases Green Climate Fund contribution

Germany steps up efforts to reduce carbon emissions

Matched "hybrid" systems may hold key to wider use of renewable energy

Ferry charge station uses Corvus lithium energy storage system

Corvus Energy Announces Liquid Cooled Version of Industrial Lithium Battery

Chinese power companies pursue smart grids

A Better Look at the Chemistry of Interfaces

Finding infant earths and potential life just got easier

'Mirage Earth' exoplanets may have burned away chances for life

Stardust Not Likely to Block Planet Portraits

Ground-based detection of exoplanets

Chinese farmer finds new life in an orange submarine

Russian warships in English Channel due to 'bad weather'

Australian defence minister back-paddles on canoe comment

France delays warship delivery to Russia 'until further notice'

Red Planet's Mystery

Meteorite From Mars Contains Alien Biomass

Traces of possible Martian biological activity inside a meteorite

Meteorite stirs life-on-Mars debate

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.