The intergovernmental agreement between Hungary and Soviet Union to build the first nuclear power plant in Hungary was signed on 28 December 1966, and in 1967, the Paks site 100 km south of Budapest was chosen.
The Paks Nuclear Power Plant has four VVER-440 units which were installed between 1982 and 1987. The original 440 MW capacity of the units was increased to 500 MW as a result of efficiency enhancement programmes.
The Russian nuclear fuel company TVEL has been a reliable supplier for Paks NPP for three decades Collaboration also exists in the area of service and modernisation.
JSC Rusatom Service (a member of the ROSATOM Group) and MVM Paks Ltd. signed the framework agreement on the supply of equipment and spare parts for the maintenance and upgrading of the four existing Paks NPP units in October 2015.
JSC Rusatom Service and MVM Paks Ltd. signed a framework agreement on modernisation and maintenance of the Paks NPP in June 2016.
Paks NPP II
On 14 January 2014, representatives of the Hungarian and Russian governments signed an inter-governmental agreement concentrating on cooperation in the area of peaceful utilisation of nuclear power and the construction of two new power units at the Paks plant.
At the end of March 2014, a 10-billion-euro credit agreement was signed between Hungary and Russia to finance the development of two new units at Paks NPP. In December 2014 MVM Paks II Nuclear Reactor Development JSC and Nizhny Novgorod Engineering Company Atomenergoproekt (NIAEP-ASE) signed three implementation agreements for Paks II NPP construction.
The expansion of Paks NPP, which was built together by Soviet and Hungarian nuclear specialists, is of strategic importance to Hungary's energy security – significantly, the plant provides more than 50% of the country's electricity. Two new VVER-1200 generation 3+ reactors will replace the existing units which will cease operation between 2032 and 2037.
Today the Paks NPP expansion project is in the preparatory phase.