MVM Paks Nuclear Power Plant LTD / Mvm Paksi Atomerőmű Zrt.

For more than 30 year Paks Nuclear Power Plant has been generating safe, cheap and environmentally friendly electricity satisfying a significant part of the Hungarian energy demand. Today, this share accounts for more than 50%.

The predecessor of MVM Paks NPP Ltd. (PA Zrt.) was the Paks Nuclear Power Plant Company (PAV), founded on 1 January 1976. With the establishment of this company a new branch of national industry was born, namely the use of nuclear energy to produce electricity. As a result of a service life extension programme, Unit 1 of the nuclear power plant will operate for another 20 years, continuing to ensure favourable conditions for electricity generation. Upon obtaining a licence for extended service life, Unit 2 of Paks NPP will be in operation until 2034, Unit 3 until 2036 and Unit 4 until 2037.

According to the Hungarian–Russian Intergovernmental Agreement signed in mid January 2014, two new power units with the capacity of 1200 MW each can be constructed on the site of Paks Nuclear Power Plant and are expected to start operation in the late 2020s.