India–South Korea Strategic Partnership for Small Modular and Micro Modular Reactors

¨     Fairwood Nuclear Private Limited and South Korea’s SK Securities Co. Ltd. signed a strategic collaboration agreement on 3 June 2026 for Small Modular Reactors (SMRs) and Micro Modular Reactors (MMRs) in India.

¨     The agreement covers project development, financing, industry collaboration, investor access, and fundraising for advanced nuclear projects.

¨     Small Modular Reactors (SMRs) are nuclear reactors with lower installed capacity compared to conventional large reactors.

¨     They are built using modular components, and factory-based construction is a key feature of the SMR concept.

¨     Micro Modular Reactors (MMRs) are even smaller than SMRs and are classified as advanced nuclear systems.

¨     They are designed for compact deployment and are discussed in the context of distributed power generation and specialized energy applications.

¨     The initial agreement term is three years and may be extended by mutual consent.

¨     SK Securities is expected to leverage its networks in South Korea and global markets in nuclear, infrastructure, and finance sectors to support future projects in India.

¨  India’s nuclear energy programme includes Pressurised Heavy Water Reactors, Fast Breeder Reactors, and Light Water Reactors.

¨     SMRs generally require less construction time compared to large traditional nuclear plants.

¨     Advanced nuclear reactor projects are associated with low-carbon electricity generation and grid flexibility.

¨     Private sector participation in nuclear project financing is emerging as an important topic in India’s future energy planning.