Overview
India’s Fairwood Nuclear and South Korea’s SK Securities signed a three-year pact on 3 June 2026 to develop small and micro modular reactors in India. The deal covers project financing, investor outreach and a privately-funded “Make in India” reactor platform, marking a major step in opening India’s nuclear sector.
A New Chapter for Indian Nuclear Energy
On 3 June 2026, India’s Fairwood Nuclear Pvt Ltd and SK Securities Co Ltd of South Korea signed a strategic collaboration agreement to back the development and financing of Small Modular Reactors (SMRs) and Micro Modular Reactors (MMRs) in India. The announcement came just days after the Shanti Bill 2025 opened India’s nuclear power sector to private investment for the first time, setting the stage for this high-profile tie-up.
What Are SMRs & MMRs?
SMRs are advanced nuclear reactors with power outputs up to 300 MW – about one-third the capacity of conventional nuclear plants. Their modular design allows them to be built in factories and shipped to site, cutting construction timelines from years to months. MMRs are even smaller systems, typically 1–20 MW , designed to fit on a flatbed truck for remote power generation or industrial applications. India sees SMRs as the perfect bridge: they can repurpose retired coal plants, power energy-intensive industries, and bring electricity to off-grid regions.
Who Signed the Deal?
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Fairwood Nuclear Pvt Ltd – A Delhi-based private company registered in 2009, focused on developing, owning and operating advanced nuclear projects. Its co-founder Ranbir Saran Das called the partnership a way to create “an Indian platform capable of accelerating next-generation nuclear projects”.
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SK Securities Co Ltd – Founded in 1955, this Seoul-based investment firm has deep ties across South Korea’s nuclear, infrastructure and financial sectors. Patrick Han , head of global business at SK Securities, said SMRs and MMRs would “play an increasingly important role in India’s future energy mix”.
What Does the Agreement Cover?
The three-year pact (renewable by mutual consent) creates a non-exclusive framework for:
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Project development and industry engagement – bringing together Indian and Korean expertise.
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Investor outreach and fundraising – leveraging SK Securities’ capital-market network.
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Building a “Make in India” reactor platform – Fairwood aims to design, finance and own reactor projects entirely with private capital.
Notably, Fairwood will also research and develop a privately financed “Make in India” reactor platform , a first in India’s nuclear history.
Why Now? India’s Nuclear Policy Reforms
Until recently, India’s nuclear sector was a state-monopoly. The Shanti Bill 2025 changed that by:
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Repealing the Atomic Energy Act 1962 and the Civil Liability for Nuclear Damage Act 2010 .
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Allowing up to 49% private and foreign investment in nuclear power plants.
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Establishing a graded liability framework (Rs 100 crore to Rs 3,000 crore) to reduce investor risk.
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Granting statutory status to the Atomic Energy Regulatory Board .
The government also launched a ?20,000 crore Nuclear Energy Mission focused on SMR research, aiming to have five indigenous SMRs operational by 2033.
What This Means for India’s Energy Goals
India aims for 100 GW of nuclear capacity by 2047 . The country currently runs several Pressurised Heavy Water Reactors (PHWRs) , is commissioning a Prototype Fast Breeder Reactor (PFBR) at Kalpakkam, and has Light Water Reactors (LWRs) built with foreign cooperation. SMRs fill a missing link: they are smaller, cheaper, faster to build, and can be deployed where large reactors cannot go. The Fairwood–SK Securities deal is a concrete step toward making that vision a reality.
Conclusion: A Quiet Revolution Begins
The agreement may be small in headline numbers, but its symbolic weight is enormous. For the first time, a private Indian company has teamed up with a global financial partner to bankroll next-generation nuclear technology. If successful, it could unlock a wave of private investment in clean, 24×7 nuclear power – complementing solar and wind to help India meet its net-zero 2070 target.
Exam-Focused Points
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Date of signing : 3 June 2026.
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Parties : Fairwood Nuclear (India) & SK Securities (South Korea).
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Agreement duration : 3 years (renewable by mutual consent).
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Technologies covered : Small Modular Reactors (SMRs) – up to 300 MW; Micro Modular Reactors (MMRs) – 1–20 MW.
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Key features : Project development, investor outreach, fundraising, “Make in India” reactor platform.
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Policy context : Enabled by the Shanti Bill 2025 , which opened India’s nuclear sector to private and foreign investment (up to 49%).
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India’s nuclear capacity target : 100 GW by 2047.
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Fairwood’s ambition : To develop, own and operate SMR/MMR projects with private capital.
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SK Securities role : Advisory and investment firm leveraging Korean nuclear and financial networks.
Frequently Asked Questions (FAQ)
Q1: What did Fairwood Nuclear and SK Securities agree on?
A: They signed a three-year strategic pact to develop and finance Small Modular Reactors (SMRs) and Micro Modular Reactors (MMRs) in India, covering project development, investor outreach and fundraising.
Q2: Why are SMRs and MMRs important for India?
A: They are smaller, cheaper and faster to build than conventional nuclear plants, can repurpose retired coal plants, provide captive power to industries, and supply electricity to remote areas without grid connectivity.
Q3: What is the Shanti Bill 2025?
A: A landmark law that opened India’s nuclear power sector to private and foreign investment (up to 49%), repealed outdated legislation, and created a graded liability framework to attract investors.
Q4: What is Fairwood Nuclear’s “Make in India” reactor platform?
A: A privately designed, financed and built nuclear reactor platform – the first of its kind in India – aimed at accelerating indigenous advanced reactor development.
Q5: How will this deal help