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Hungary could expand Paks plant with private funding

Hungary could expand the Paks Nuclear Power Plant, the country's only atomic energy facility, without drawing on state funding, Péter Kiss, a specialist at consultancy KPMG, said.

The expansion of the plant could be financed in a number of ways other than by the state. Among the most advantageous would be to involve financial or strategic investors, big consumers or electricity distributors in the project, Kiss said. The economic crisis is unlikely to affect the financing as preparations for the expansion will take 5-6 years, he added.

Building the expansion would take another 5-6 years, according to experts.

Parliament on Monday gave its support, in principle, for the expansion of the Paks plant.

International experience shows that a 1,000MW nuclear power plant block costs €2.0 billion - €2.5 billion to build, energy affairs minister Csaba Molnár said earlier. (MTI – Econews)