Serbia plans to buy up to 10% of Hungary's Paks nuclear power plant

Serbia plans to buy up to 10% of the shares of the Paks nuclear power plant, Reuters reported, citing Serbian President Aleksandar Vucic, who raised the issue with Hungarian Prime Minister Viktor Orban during his visit to Budapest.

According to the news agency, the Hungarian government has not yet responded to the offer.

"I asked Prime Minister Viktor Orban, we are ready to pay the full price for five or ten percent of the ownership of the Paks nuclear power plant," Serbian President Aleksandar Vucic told reporters in Budapest, Reuters reported.

Vucic did not specify whether Serbia would like to buy a stake in the existing four-reactor Paks nuclear power plant or Paks II, which is being built by Russia's Rosatom.

Currently, Serbia generates about 60% of its electricity from coal-fired power plants, but the country is considering ways to diversify energy supply and make a "green" transition. According to the results of 2023, the share of hydroelectric power plants in the generation structure took 31.2%, while wind power took only 2.6%.