Holtec International and Hungary’s state-owned energy company MVM have signed a memorandum of understanding to explore the deployment of Holtec’s SMR-300 small modular reactor technology in Hungary, Holtec said in a post on X. The agreement builds on the US–Hungary Nuclear Energy MOU signed in Washington in November. The SMR-300 is based on proven PWR technology, commercially available fuel and flexible cooling options, providing Hungary with a proven, safe and versatile SMR technology for sustainable energy development in the country.
The MOU was signed by MVM CEO Károly Mátrai and Rick Springman, Holtec’s President of the Global Clean Energy Opportunities Division.
In November, following talks between US President Donald Trump and Hungary’s President Viktor Orban, the two countries’ governments signed an MOU on nuclear energy which the US State Department said, “signals our intent to start negotiations to facilitate cooperation across the civil nuclear industry, including small modular reactors (SMRs) and spent fuel storage”.
It added: “The United States and Hungary are collaborating to make Budapest a hub of the emerging Central European SMR market, deploying market-leading US nuclear innovation to jumpstart a new transatlantic industry. Hungary signalled it intends to support construction of up to 10 SMRs with a potential value of up to $20bn.”
Hungarian nuclear energy development firm Hunatom signed a letter of intent in August with Poland’s Synthos Green Energy to establish a pre-framework for joint activities relating to project development for up to 10 GE Vernova Hitachi BWRX-300 SMRs.
Hungary currently generates about half of its electricity at the Paks nuclear power plant, 100 kilometres south of Budapest, which comprises four Russian-supplied VVER-440 pressurised water reactors, which started up between 1982 and 1987.
That plant is set to be expanded with the Paks II project – an inter-governmental agreement was signed in early 2014 for Russian enterprises and their international subcontractors to supply two VVER-1200 reactors at Paks as well as a Russian state loan of up to $10.5bn to finance 80% of the project. The project has faced delays caused by US sanctions on Russia and technical problems.
However, in November, following Orban’s visit to Washington, the US lifted the sanctions related to Paks, and the construction schedule is now back on track.
Minister of Foreign Affairs and Trade Péter Szijjártó has said the project is progressing faster than planned. According to the ministry’s statement, Szijjártó first pointed out that the construction of two new Paks units guarantees Hungary’s long-term energy security.
“Now a situation has arisen where there are neither American nor European sanctions in connection with the construction of the Paks nuclear power plant,” he said. “We have received all Hungarian official permits, so now we were able to speed up construction. The first concrete will be placed in the ground on 5 February, and the preparatory work for this will proceed faster than previously planned.”
He added: “We were able to start the construction of the reinforced concrete structure required for the first concrete pouring not in January, but today”. He noted that the reinforced concrete structure in question is the prerequisite for the first concrete to be able to go down into the ground. A total of 133 tonnes of iron will be installed in the coming days and weeks.
Szijjártó emphasised that the production and pre-assembly had been carried out by Hungarian companies. “Even its own concrete plant has started operating in the area of the nuclear power plant. Here, the special concrete required for the construction of the nuclear power plant is produced. So we were able to speed up construction, we are now well ahead of schedule, and we will start the work planned for January … today.”
