Serbia's Bold Bid for Nuclear Stake: Energy Diversification at the Core

Serbia aims to diversify its energy sources by proposing to acquire up to 10% ownership in Hungary's Paks nuclear power plant. President Vucic's offer remains unanswered by Hungary. Serbia, lacking nuclear facilities, is seeking alternatives to its coal-heavy and Russian gas-dependent energy mix.

In a move to diversify its energy portfolio, Serbia has proposed a financial investment for up to a 10% ownership stake in Hungary's Paks nuclear power plant. The announcement was made by President Aleksandar Vucic on Thursday, who communicated the offer to Hungarian Prime Minister Viktor Orban.

During a briefing with Serbian reporters in Budapest, Vucic stated that the offer includes purchasing either a 5% or 10% stake at full market value. However, he noted that Hungary has not yet responded to the proposal.

Serbia, which currently lacks nuclear energy facilities due to a ban post-Chernobyl, aims to shift away from its heavy reliance on coal and Russian gas. Recent infrastructure developments like the interconnector to Bulgaria's gas network are part of this strategic diversification effort.

(With inputs from agencies.)