EU state aid regulators gave Hungary the green light Monday for the controversial Russian-backed Paks II nuclear power project. The European Commission’s approval is conditional on Hungary collecting higher returns on its investment into the project, ensuring it is managed separately from the existing Paks nuclear power plant, and selling a third of the energy generated on an open exchange. Hungary has generated considerable controversy by handing the contract to build the reactor to Russia’s Rosatom without conducting a tender. The works will be financed by a Russian loan worth some €10 billion.
Politico 6th March 2017 read more »
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.
European Commission 6th March 2017 read more »
BNE Intellinews 6th March 2017 read more »