New Chapter in Hungarian Energy: Small Modular Reactors on the Horizon

Paks nuclear plant

The technological, infrastructural, financial, and legal preparations necessary for the introduction of small modular nuclear technology in Hungary are beginning, Foreign Minister Péter Szijjártó announced on Wednesday in Budapest.

The Minister reported that in today’s challenging times, energy security has been jeopardized in many parts of the world, including Europe, where several transport routes have been shut down as a result of political decisions, causing prices to skyrocket. He emphasized that this is particularly serious for Hungary, which has no coastline and no significant energy resources of its own, and that the government’s goal remains to guarantee the lowest utility costs on the continent for the population.

“Therefore, the task is to ensure that, even under these circumstances, we are able to produce as much of the country’s energy needs as possible ourselves,” he said, adding that the primary solution for this is nuclear energy, which is currently undergoing a major technological revolution.

He explained that, in addition to large power plants, they have begun to develop small modular nuclear reactors, which are ideal for providing reliable, cheap, and environmentally friendly energy to industrial areas such as those created in Hungary with large factory construction and record investments.

Péter Szijjártó pointed out that the world market leaders in this technology, which is still under development, are American companies, including GE Vernova, which is already present in Hungary and whose technology is owned in Central Europe by a Polish company, Synthos Green Energy. “A small nuclear power plant is already being built in Canada using this American technology, where the Canadian authorities have granted a construction permit. This is definitely an encouraging and even reassuring sign for us,” he said.

@FM_Szijjarto announced the launch of preliminary work in Hungary to prepare for the introduction of small modular nuclear reactor (SMR) technology. This encompasses technology, infrastructure, financial, and legislative measures under an agreement with @ORLEN_Synthos and… pic.twitter.com/nRGbqdMEM7

— Zoltan Kovacs (@zoltanspox) July 30, 2025

He then announced that Hunatom, a company belonging to the Paks II group and involved in nuclear technology development, had signed an agreement with Synthos Green Energy on preparations for the introduction of American technology in Hungary.

This agreement is about starting the technological, infrastructural, financial, and legal preparatory work necessary for the introduction of this American nuclear technology in Hungary,”

he said.

He also emphasized that securing a reliable and inexpensive supply of energy is necessary to lay the foundations for the future growth of the Hungarian economy. “This is also important because investments continue to arrive in Hungary at a good pace, factories are being built, jobs are being created, and in order for these factories to be operational, energy is needed, and energy must be produced in large quantities, affordably, securely, and with zero added emissions.” The Minister emphasized that in a country the size of Hungary, it is not realistic to consider building several large nuclear power plants in succession, but small modular reactors could be a good solution.

“Today, we have taken the first step towards ensuring that Hungary will be able to use the most modern small nuclear technology in the future when it comes to the security of its energy supply. With the signing of this agreement, preparatory work is now beginning in the legal, infrastructural, financial, and legislative areas,” he said.

Robert Palladino, U.S. ambassador  to Budapest, called the signing of the agreement an important milestone in relations between Hungary and the United States.

“This is a kind of strategic cooperation that we are implementing in the region, a real partnership based on mutual respect,” he said, adding that Hungarian-American relations are also deepening in the areas of defense, trade, space exploration, and energy. “This is no coincidence; we are doing this because we have common interests and shared values, such as sovereignty, freedom, and the right to decide our own destiny,” he said.

Via MTI; Featured photo: MTI/Jánossy Gergely