After more than 30 years of dormancy, the concept of incorporating nuclear energy into Serbia’s energy mix is experiencing a significant resurgence. This renewed interest is largely driven by the new Proposal for the Law on Energy, which aims to lift the 1989 ban on constructing nuclear power plants. This movement is also backed by multiple agreements between Serbia and France regarding nuclear energy cooperation, as well as the idea of building small modular reactors in partnership with France.
While some energy experts are skeptical about the prospect of small modular reactors in Serbia due to their unproven technology, many see the government’s plan to invest in a stake in Hungary’s Paks 2 nuclear power plant, or any other nearby nuclear facility, as a beneficial approach. Experts agree that buying into an existing regional nuclear power plant could be the fastest and most reliable route for Serbia to secure stable energy. Serbia, which currently lacks the capacity to build a nuclear power plant before 2040, could benefit from cleaner energy, allowing the shutdown of outdated thermal plants and reducing pollution. Additionally, Serbian engineers could gain valuable experience working in Hungary, which could be applied to future nuclear projects in Serbia.
However, there are risks associated with this plan. The Paks 2 nuclear plant, currently under construction in Hungary, is being built by Russian contractors, and the project has faced significant delays. The European Union’s opposition and sanctions against Russia have further complicated the situation. This raises concerns about whether the Russians will complete the project as originally agreed.
A long-standing idea
The idea of Serbia acquiring a share of a nuclear power plant is not new; it was first brought up during the energy crisis in 2021. President Aleksandar Vučić proposed the purchase of a 5-10% stake in a regional nuclear facility, including Paks 2, after a meeting with Hungarian Prime Minister Viktor Orbán. Vučić indicated Serbia’s willingness to pay the full price for this stake, though Hungary has yet to respond.
Radosavljević, an energy expert, supports the purchase of a stake, citing it as a secure way for Serbia to gain energy independence and develop its nuclear expertise. He emphasizes that owning a share in a regional plant would offer a steady supply of energy, help replace outdated thermal plants, and provide opportunities for local engineers to acquire hands-on experience.
The total cost of building Paks 2 is estimated between €12 and €15 billion, with Serbia’s share for a 5-10% ownership likely falling between €600 million and €1.5 billion. However, the final price may differ, depending on how the project progresses.
Training domestic personnel
Miodrag Mesarović, an honorary secretary general of the Serbian Committee of the World Energy Council, believes that purchasing a stake in Paks 2 would also serve as a foundation for preparing Serbia for its own nuclear plant in the future. He suggests that Serbia could lease 10% of the Paks 2 capacity, which would provide approximately 240 megawatts of electricity, equivalent to the output of one unit at the Nikola Tesla thermal power plant in Obrenovac.
The lease would not only secure energy for Serbia but also allow for the training of domestic personnel, who could later manage Serbia’s own nuclear facilities. Mesarović also points out that the Russian loan for Paks 2, worth $10 billion, was granted with favorable terms, which would be beneficial for Serbia if it enters into an agreement with Hungary.
Regional cooperation and nuclear energy trends
The desire for nuclear energy is not unique to Serbia. Croatia, which shares the Krško Nuclear Power Plant with Slovenia, is also interested in expanding its nuclear capacity. Croatia had previously considered buying a stake in Paks 2 but withdrew due to geopolitical concerns surrounding Russian involvement. Despite this, Croatian energy analyst Ivan Brodić supports nuclear energy as part of the broader energy transition, emphasizing the importance of energy security and climate goals.
Brodić also noted that Croatia’s renewed interest in nuclear energy coincided with increased cooperation with France, particularly after the war in Ukraine. Croatia’s alignment with the French-led EU initiative on nuclear energy reflects broader regional trends. Similarly, Serbia’s push for nuclear energy gained momentum after President Vučić’s visits to France, highlighting the shared regional ambitions for cleaner and more secure energy sources.
About Paks 2 nuclear power plant
The Paks 2 nuclear power plant is an expansion of the existing Paks Nuclear Power Plant in Hungary. Located along the Danube River in southeastern Hungary, the new project will add two reactors, Paks 5 and Paks 6, based on the Russian VVER-1200 reactor technology. The total capacity of these reactors will be 2,400 megawatts, contributing significantly to Hungary’s energy needs and offering a model for potential regional nuclear collaboration.
