Finance
Hungary plans to bring in US small modular reactor tech with Polish partner
Published by Global Banking and Finance Review
Posted on July 31, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on July 31, 2025
2 min readLast updated: January 22, 2026
Hungary collaborates with Poland to import US small modular reactor technology, focusing on GE Vernova Hitachi's BWRX-300 reactors.
BUDAPEST (Reuters) -Hungary has taken a key step towards importing small modular nuclear reactor technology by partnering with Poland's Synthos Green Energy, which holds the rights to GE Vernova Hitachi's technology in central Europe.
Hungarian nuclear energy development firm Hunatom signed a letter of intent with Synthos, which serves as project developer for building BWRX-300 reactors in the region.
"This agreement is about initiating the technological, infrastructural, financial, and legal preparatory work needed to bring this American nuclear technology to Hungary," Hungarian Foreign Minister Péter Szijjártó said late on Wednesday.
GE Vernova Hitachi is a joint venture between General Electric and Japanese conglomerate Hitachi.
It was not immediately clear how many reactors Hungary wants. In 2023, Energy Minister Csaba Lantos said that Hungary will need to build at least one small modular reactor.
"The United States and Hungary are deepening our relationship across the board: in defense, in commerce, in space, and in energy," Robert Palladino, Chargé d’Affaires at the U.S. embassy in Hungary, said after the signing ceremony.
Hungary currently has a nuclear plant with four Soviet-made VVER reactor units, first brought online between 1982 and 1987.
In 2014, Hungary signed an agreement with Russian nuclear firm Rosatom worth 12.5 billion euros to build two 1.2 gigawatt reactors at Paks on top of the four existing reactors. However, the project, called Paks 2, has experienced long delays.
The project was awarded to Rosatom without a tender, and it is often cited as a sign of continued close ties between NATO and European Union member Hungary and Russia, despite the war in Ukraine - a connection that has unnerved Western allies.
(Reporting by Anita Komuves; Editing by Edwina Gibbs)
Hungary is planning to import small modular nuclear reactor technology by partnering with Poland's Synthos Green Energy.
The agreement aims to initiate the technological, infrastructural, financial, and legal preparatory work needed to bring American nuclear technology to Hungary.
While it is not clear how many reactors Hungary wants, Energy Minister Csaba Lantos stated that at least one small modular reactor will be needed.
Hungary currently operates a nuclear plant with four Soviet-made VVER reactor units, which were first brought online between 1982 and 1987.
In 2014, Hungary signed a 12.5 billion euro agreement with Russian firm Rosatom to build two additional 1.2 gigawatt reactors at Paks.
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