The Hungarian Atomic Energy Authority announced on 28 October that MVM Paks II has submitted a site licence application for two new units planned for the Paks NPP site. The NPP currently comprises four Russian-supplied VVER-440 pressurised water reactors, which started up between 1982 and 1987. Under an inter-governmental agreement signed in early 2014, Russian state nuclear corporation Rosatom is to supply two VVER-1200 reactors at Paks, supported by a Russian state loan of up to €10.0bn ($11.2bn) to finance 80% of the project.
The project achieved an important milestone in late September, with the receipt of an environmental licence. Attila Aszódi, the government commissioner responsible for Paks II, said the licence confirms that the project meets the environmental requirements of both Hungary and the European Union. Once the site and environmental licences have been issued, a construction licence application can be submitted. The European Commission (EC) has been examining until recently two matters related to Paks II - procurement and whether funding of the project amounts to state aid. Construction should start in 2018, depending on the conditions the EC attaches to its approval of the project.