EU clears €12.5bn Hungary nuclear station

Spencer Ogden our consultant managing the role
Date posted07/Mar/2017
Spencer Ogden our consultant managing the role
The EU has approved Hungary’s €12.5bn deal to expand its Soviet-era nuclear power station at Paks.

The Hungarian government has made substantial commitments, which has allowed the Commission to approve the investment under EU state aid rules,” said Margrethe Vestager, the European commissioner for competition.

Hungary explained the reactors are needed as it starts to phase out the four existing Paks reactors.

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