Paks II
Paks II Nuclear Power Plant expansion in Hungary, adding two 1.2 GW VVER-1200 reactors by Rosatom.
€12.5 billion contract signed 2014, construction started 2023 after EU approval. Extends Paks I life to 2037+. Covers 70% of Hungary's electricity post-completion ~2030.
Why it matters now
Rosatom's European foothold amid US ban on Russian fuel; impacts 2025-2026 uranium demand as EU weighs fuel diversification for new builds.
Related reactors
VVER-1200