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Brief chronology
  • 31 July 2007 – The MVM Group starts working out a feasibility study on a new nuclear power plant unit(s).
  • 30 March 2009 –  A proposal for resolution of Parliament is adopted, which grants consent to the preparation of the siting of a new nuclear power plant unit or units on the site of the Paks Nuclear Power Plant. Parliament adopts the motion with 330 votes in favour, 6 against and 10 abstentions.
     
  • 8 July 2009 –  The MVM Group starts preparing the establishment of a new nuclear power plant unit(s). 
  • 3 October 2011 –  Parliament adopts the National Energy Strategy, which sets directions for development and operation in the coming two decades, with an outlook to 2050. Under the strategy, in order to facilitate the achievement of its very long-term economic and environmental protection goals, the State wishes to maintain the approx. 40% to 45% share of nuclear energy in domestic electricity production in the long term.
     
  • 9 May 2012 –  The Shareholders’ Meeting of MVM Ltd. makes a decision to establish a stand-alone company performing the preparations of the establishment of the proposed new nuclear power plant unit(s). According to it, MVM Paks II Nuclear Power Plant Development Private Limited Company owned 100 per cent by MVM will continue the design, decision preparation and licensing work associated with the new nuclear unit(s).
      
  • 26 July 2012 –  MVM Hungarian Electricity Ltd. establishes its new project company in the interest of the establishment of the proposed new nuclear power plant unit(s). The Chairman of the Board of Directors of MVM Paks II Ltd. is Csaba Baji, Chairman and CEO of MVM Ltd., and its members are Sándor Nagy, CEO of MVM Paks II Ltd., and István Hamvas, CEO of MVM Paks Nuclear Power Plant Ltd.
     
  • 14 January 2014 –  In the presence of Hungarian Prime Minister Viktor Orbán and Russian President Vladimir Putin, Mrs Lászlóné Németh, Minister for National Development, and Sergei Kirienko, CEO of Rosatom, sign an intergovernmental agreement on cooperation in the use of nuclear energy for peaceful purposes, which includes an agreement to build two VVER units at the Paks site.
     
  • 6 February 2014 –  Parliament adopts Bill T/13628 on the Promulgation of the Convention on Cooperation in the Field of Nuclear Energy Between Hungary and Russia with 256 votes in favour, 29 against and 2 abstentions. Of Members of Parliament participating in the vote, 89.2% support the international convention.
     
  • 28 March 2014 –  A loan contract is signed between Hungary and Russia, under which the Russian party will provide a State loan to the amount of maximum EUR 10 billion to the Hungarian party for financing the works, services and procurement of equipment required for the design, construction and commissioning of Units 5 and 6 of the Paks Nuclear Power Plant.
     
  • 5 May 2014 –  A public hearing is held by MVM Paks II Ltd. in Paks in connection with the establishment of licensing of the site assessment and evaluation process of the new nuclear power plant units.
     
  • 23 June 2014 – The Hungarian Parliament approves the loan agreement between Hungary and Russia for the financing of capacity maintenance with 110 votes in favour, 29 against and 19 abstentions.
     
  • 1 July 2014 –  Prof. Attila Aszódi, Director of the Institute of Nuclear Techniques of the Budapest University of Technology and Economics, is appointed Government Commissioner responsible for the maintenance of the capacity of the Paks Nuclear Power Plant.
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  • 15 October 2014 – The Shareholders’ Meeting of MVM Hungarian Electricity Ltd. makes a decision on 15 October to transfer the shares in MVM Paks II Nuclear Power Plant Development Ltd. to the Hungarian State via Hungarian State Holding Company Ltd. On the basis of independent asset valuations carried out by Deloitte Ltd. and Ernst&Young LLC, the purchase price is set at HUF 10.157 billion.
     
  • 14 November 2014 – The Hungarian Atomic Energy Authority issued a site assessment and evaluation licence for MVM Paks II Ltd.
     
  • 15 November 2014 –  The shareholder’s rights and obligations related to MVM Paks II Ltd. are exercised and performed by the Prime Minister’s Office from this date.
     
  • 9 December 2014 –  MVM Paks II Ltd. and the Russian Joint-Stock Company Nizhny Novgorod Engineering Company Atomenergoproekt signed three implementation agreements (EPC Contract, Operation and Maintenance ContractContract specifying the details of the fuel supply and management of the spent fuel relating to two new nuclear power plants units, each with a capacity of 1,200 megawatts, to be established at Paks.
  • 19 December 2014 – The project company presents its environmental licence application to the competent authority (South Transdanubian Environmental and Nature Protection Inspectorate, today it’s Baranya County Government Office Department of Environment and Nature Protection). Thus begins the environmental licensing process.
  • 17 March  4 May 2015: MVM Paks II. Ltd held 41 public forums in the nearby settlements  of the Paks nuclear power plant – as part of the environmental licensing process. More than 3000 interested visited these forums.
  • 7 May 2015 –  A public hearing was held in Paks in the Csengey Dénes Cultural Centre as part of the environmental licensing process, organized by the Baranya County Government Office.
  • 21 September – 6 November 2015 – MVM Paks II. Ltd. held nine public hearings abroad as part of the environmental licensing process in the following countries: Germany, Romania, Serbia, Slovenia, Ukraine, Austria and Croatia.
  • 29 September 2016 – The Baranya County Government Office issues the Paks II.’s environmental license, which proves that the project fulfills the EU’s and Hungarian requirements of environmental protection and nature conservation.
  • 27 October 2016 The project company presents the site licensing application to the competent authority, the Hungarian Atomic Energy Authority.
  • 17 November 2016According to the European Commission’s decision, Hungary acted in accord with the EU’s public procurement requirements while signing the Hungarian-Russian intergovernmental agreement of establishing new nuclear power plant units in Paks.
  • 13 December 2016A site licensing public hearing is organized in Paks by the competent authority, the Hungarian Atomic Energy Authority.
  • 6 March 2017 – The European Commission closes its investigation regarding the state aid of the Paks II. investment. 
  • 30 March 2017 – The Hungarian Atomic Energy Authority issues the site license for the Paks II. project company.
  • 18 April 2017 – The competent authority, the Pest County Government Office issues a statement regarding the first instance environmental license becoming second instance license, and becoming legally binding.
  • 2 May 2017 János Süli, minister without portfolio responsible for the design, construction and installation of the two new nuclear power plant units of Paks takes his oath before the Parliament (he got his credentials from János Áder president of Hungary on 26 April 2017 in the Sándor Palace, which came into force on 2 May).
  • 3 May 2017 MVM Paks II. Ltd.’s  ownership rights and obligations from this day on will be exercised by the minister without portfolio responsible for the design, construction and installation of the two new nuclear power plant units of Paks.
  • 8 June 2017 – From this day on the site works and technical area are supervised by Attila Aszódi and the innovation, regional development and contact with the contractors are supervised by Attila Becskeházi as state secretaries.
  • 1 July 2017 – From this day on the Chairman of the Board of Directors of the project company is dr. György Mészáros and the CEO is István Lenkei.
  • 9 October 2017 – CEO István Lenkei and Communications Director István Mittler present the company's new name (Paks II. Nuclear Power Plant Private Company Limited by Shares, or Paks II. Ltd.) and corporate image.
  • 27 February 2018 – On 27 February 2018 Paks II Ltd. officially handed over the work area to the main contractor, ASE Engineering Company belonging to the Rosatom Group, for the construction of the first staging area facilities. With this the construction of the first facilities of a building complex of about 80 units will start

  • 28 February 2018 – János Süli, the minister responsible for the Paks II. investment announced on 28 Februrary in Vienna, that the International Atomic Energy Agency provides technical support to the implementation of Paks II.
     

Prelude of the Paks II. project 2007-2012
 
In 2007 MVMGroup was responsible for working out a feasibility study about the new nuclear power plant unit(s), preparing decisions about the establishment of new nuclear power capacities, making proposals for the necessity and conditions of the project, as well as the type and siting of the power plant, on the basis of professional, social and environmental preliminary studies.
 
On the basis of technical analyses, energy specialists have recommended the establishment of a modern pressurised water unit type, which is not a prototype; consequently, it is either operational already or is under construction and is expected to be commissioned within a short period, and has a lifetime of 60 years. They recommended Paks as its site, because it is an assessed, planned and prepared site and is provided with the required construction infrastructure. It favours Paks, furthermore, that technical culture and human resources, as well as the support of the region’s population, are already available there.
On the basis of the proposal of the MVM Group, in its Resolution No. 25/2009 (IV.2.) OGY, Parliament granted its consent in principle to the preparation of the project on 30 March 2009 (with a 95.4% majority of votes).
Following the resolution of Parliament of 30 March 2009, with the involvement of its most important member companies the MVM Group (primarily MVM Paks Nuclear Power Plant Ltd.) on 8 July 2009, started to prepare the establishment of new nuclear power plant unit(s), through which the project may finally begin.
A Capacity Expansion Directorate was established at MVM Paks Nuclear Power Plant Ltd. on 15 September 2009; its main goal was to prepare high priority strategic objectives relating to the establishment of the proposed new nuclear power plant unit(s) and to licence them. Furthermore, the Capacity Expansion Directorate was to coordinate and implement the tasks arising in connection with preparation and licensing at the Company level, as well as to provide a strong technical background with several decades of experience.
The main tasks of the preparatory work included the identification of the framework of the proposed establishment; laying down the required technical and commercial terms; the preparation of technical analyses on the environmental impacts, expected trends in post-2020 consumer demand, the regional energy market and the required system-level balancing and network development requirements; the analysis of the effects of the project on the national economy; and the assessment of the possibility of introducing a special electricity tariff element and the British Contract for Difference in Hungary. Important tasks of the project also included the obtaining of site, environmental, water and establishment licences.
 
 
 
Paks II Nuclear Power Plant Private Company Limited by Shares
MVM Paks II Nuclear Power Plant Development Private Limited Company (today Paks II Nuclear Power Plant Private Company Limited by Shares) has been responsible for  the preparatory work of the establishment of new nuclear power plant unit(s) since its establishment on 26 July 2012. Its goal is the establishment of the new nuclear power plant unit(s).
The Company does not have an independent source of revenues coming from its core business. The registered capital serves the financing of the company's core business.  
The important mission of Paks II Ltd. is to make use of the benefits of the project to the national economy to the greatest extent possible, since construction of the new units represents a huge opportunity for domestic companies. Naturally, this also applies to companies that are not concerned directly in the establishment: it is sufficient to think about the fact that electricity at a favourable price reduces and makes plannable the electricity costs of all Hungarian companies.
The financial modelling of the project, using the information available, represents a continuous task for Paks II Ltd.
 
In summary, the core tasks of Paks II Ltd. include carrying out assessment programmes providing grounds for site licensing and an impact assessment required for environmental licensing, as well as working out a draft general contractor’s agreement and a draft long-term maintenance and operation agreement and their expert review.
 
The Company is responsible, furthermore, for carrying out network connection assessments, assessing the participation of the region and the national economy in the project,, as well as performing various information provision tasks.​