Hungary Seeks Small Modular Nuclear Reactors After UK Talks29 Jan 2025 14:09
My first ever post, so hi everyone :-) And yes I am a share holder, although I started much later than many on here so my ave is around £2. I enjoy most of the messages on here and usually get some knowledge to take away but I do get annoyed when it turns nasty.
Just came across this on Bloomberg and thought it was worth passing on. Here is the link and for those that don't have a subscription below is the text copy.
https://www.bloomberg.com/news/articles/2025-01-28/hungary-seeks-small-modular-nuclear-reactors-after-uk-talks
"Hungary plans to use small modular nuclear reactors as part of its energy mix, Foreign Minister Peter Peter Szijjarto said after holding talks with UK counterpart David Lammy.
The two nations signed a strategic cooperation agreement on Tuesday, with Szijjarto citing Rolls Royce Holdings Plc as a leader in the so-called SMR industry. Hungary is ready to take part in the technology’s development and eventual use, he said.
Hungary is facing a steep increase in energy demand after Prime Minister Viktor Orban drew some of the world’s largest battery makers to the central European nation, mostly to cater to car manufactures based in the country. Mercedes Benz Group AG, Volkswagen AG’s Audi, BMW AG and BYD Co. are among the electric vehicle makers with factories operating or under construction in Hungary.
“These small nuclear reactors could be built on an area equivalent to a football pitch and in just one, two or three years,” Szijjarto said in a Facebook post. “They could cover the energy supply of a bigger factory efficiently and in an environmentally-friendly way.”
Read more: Viktor Orban’s Big Economic Bet on EVs Isn’t Quite Going to Plan
Hungary’s decade-old expansion of its sole nuclear power plant, which is led by Russia’s Rosatom Corp, has been plagued by delays, prompting the country to push to extend the lifetime of its existing blocs to avoid a falloff in energy supply.
The Paks plant in central Hungary currently generates enough electricity to cover 40% of the nation’s power consumption."
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