In Hungary, there is just one nuclear power plant in operation. The Paks plant covers one-third of domestic electricity consumption with its four VVER-440 pressurised water reactors. The Russian-supplied reactors were commissioned between 1982 and 1987. In keeping with the 2014 inter-governmental agreement, Russia will supply Hungary with two VVER-1200 reactors for the Paks II project. The two countries agreed on a Russian state loan of up to EUR 10.0 billion (approx. CZK 280 billion) to finance 80% of the project costs. The four existing blocks will be phased out by 2032-37, and the two new units will replace them.
