nuclear-news

Hungary’s problems in financing new nuclear power plant

Hungary working to modify funding for Russian-built nuclear plant, Marton Dunai, BUDAPEST (Reuters) 26 Jan 19- Hungary is working to modify financing for a nuclear plant being built by Russia so it only starts repaying the loan once the two reactors begin supplying power, a Hungarian minister said, after an EU review of the plans contributed to delays in the project.

……..Hungary awarded Russia’s state-owned Rosatom a contract to build a similar-sized plant to replace the existing one, but construction has faced long delays, partly because of a European Union review of the project, including the way it was funded.

“Once we know the deadlines for the technical contract, we will modify this (financing) contract,” said Janos Suli, the minister in charge of the project, adding that this would meet procedures set by the EU executive……….https://www.reuters.com/article/us-hungary-nuclearpower-financing/hungary-working-to-modify-funding-for-russian-built-nuclear-plant-idUSKCN1PJ153

January 26, 2019 - Posted by Christina Macpherson | business and costs, EUROPE