Hungary’s Paks 2 nuclear power plant officially under construction

Russia’s state nuclear corporation Rosatom has poured the first concrete for the foundation of the fifth reactor at Hungary’s nuclear power plant Paks, marking the official start of construction on the Paks 2 project. Paks 2 is planned to have two reactors, of 1.2 GW each, significantly boosting Hungary’s energy independence.

The first concrete pouring is a milestone in the power plant project that marks the transition to “under construction” status in line with International Atomic Energy Agency (IAEA) standards, according to a statement from Rosatom, the main contractor on the Paks 2 project.

In parallel with the works on the foundation slab of unit 5, the construction of the excavation pit for unit 6 will begin in 2026, according to the project’s official website.

Works on the excavation pit for the second reactor set to begin in 2026

In 2023, Russia approved a EUR 10 billion state loan to Hungary to finance Paks 2, whose total cost was estimated at EUR 12.5 billion.

At the concrete pouring ceremony, Hungarian Minister of Foreign Affairs and Trade Peter Szijjárto said that Paks 2 would enable Hungary to cover around 70% of its electricity consumption from nuclear power, significantly reducing dependence on international market volatility.

Szijjárto: Paks 2 will enable Hungary to cover 70% of its electricity consumption from nuclear power

Szijjárto also noted that Hungary decided on Paks 2 at a time when the international acceptance of nuclear energy was not clear. “By now, other countries have also realized that there is no competitiveness without nuclear energy,” he stressed.

Paks 2 construction site (photo: Paks II)

Hungary and Russia signed an intergovernmental agreement on the Paks 2 project back in 2014.

The ceremony was also attended by IAEA Director General Rafael Mariano Grossi, who recalled that the project had faced many “headwinds” and described the launch of works as a “great day” for Hungary, Russia, nuclear cooperation, and energy sustainability.

Nuclear power plant Paks is located about 100 kilometers southwest of Budapest, Hungary’s capital, and has four Russian-designed VVER-440 units, each with a capacity of 500 MW, commissioned in the 1980s.

The Paks 2 project involves the installation of two VVER-1200 units, which are already being built by a Rosatom subsidiary, according to the Paks 2 website. These reactors have an operating life of 60 years, with a possible extension for another 20 years, Rosatom noted.

The Hungarian Atomic Energy Authority (HAEH) issued permits for the first concrete pouring for unit 5 in November 2025, along with a permit for the construction of the nuclear island, the Russian contractor recalled. The building permit was obtained in 2022.