The power plant planned for Hinkley Point in the UK is not the only major nuclear project in the pipeline in Europe. Enter: Paks II in Hungary. The reactors, to be built by Russian state-run firm Rosatom, are reportedly close to receiving European Commission approval for Kremlin-backed construction subsidies. Apparently the Commission is ready to accept €10 billion worth of state investment, provided in this case via an intra-governmental loan from Moscow. Hungary’s decision to build Paks II, which would be impossible under normal market conditions, assumes additional state investment in grids, reserve plants and other things.
Energydesk 9th Aug 2016 read more »