The Hungarian state's subsidy to the Paks nuclear plant upgrade project has been approved by the European Commission.
“The European Commission has concluded that Hungary’s financial support for the construction of two new nuclear reactors in Paks (Paks II) involves state aid. It has approved this support under EU state aid rules on the basis of commitments made by Hungary to limit distortions of competition,” the European Commission announced in a statement issued on Monday.
”The two new reactors aim to replace the four reactors currently operating at Paks, which were constructed in the 1980s and currently account for approximately 50 percent of Hungary’s domestic electricity production. Construction work on the upgrade of Hungary’s sole nuclear power plant is due to start next year, with financing from Russia,” according to Hungary Today.
