India's Fairwood Nuclear, South Korea's SK Securities Sign Pact to Advance Small Reactor Projects

• Fairwood Nuclear and SK Securities pact to support SMR/MMR development and financing in India for low-carbon, energy-secure power.

• Partnership covers project development, investor outreach, fundraising; leverages SK's nuclear, infrastructure, financial network globally.

• 3-year pact supports Fairwood's aim to develop, own, operate SMR/MMR projects and create "Make in India" reactor platform.

India's Fairwood Nuclear Pvt Ltd and South Korea's SK Securities Co Ltd have signed a strategic collaboration agreement to support the development and financing of small modular reactors (SMRs) and micro modular reactors (MMRs) in India, the companies said on Wednesday.

The agreement aims to accelerate the commercial and technical development of advanced nuclear projects in India, as interest grows in low-carbon and energy-secure power generation technologies.

Under the pact, the companies will work together on project development, industry engagement, investor outreach and fundraising initiatives. The partnership is expected to leverage SK Securities' network across the nuclear, infrastructure and financial sectors in South Korea and international markets to support future projects in India.

"The agreement creates a strategic relationship focused on accelerating project development, strengthening international industry engagement and facilitating access to capital markets and nuclear stakeholders in Korea, India and elsewhere. The collaboration is focused on supporting the development and financing of SMRs and MMRs in India," Fairwood said in a statement.

The collaboration establishes a non-exclusive framework for identifying strategic partnerships, engaging institutional and private investors, and facilitating access to capital and technology ecosystems. The initial agreement will run for three years and may be extended by mutual consent.

"By combining commercial ambition with international industry access and capital support, Fairwood Nuclear is creating an Indian platform capable of accelerating next-generation nuclear projects," said Ranbir Saran Das, co-founder of Fairwood Nuclear.

Patrick Han, head of global business at SK Securities, said advanced nuclear technologies, such as SMRs and MMRs, are expected to play an increasingly important role in India's future energy mix and that the partnership would help align Korean and international expertise, investor networks and strategic relationships to support project development.

The agreement comes as governments and investors globally increase their focus on next-generation nuclear technologies as a source of reliable, carbon-free electricity and energy security.

Fairwood Nuclear said the partnership would support its ambitions to develop, finance, own and operate SMR and MMR projects in India, while also advancing research and development aimed at creating a privately designed and financed "Make in India" reactor platform.

SK Securities is a South Korea-based advisory and investment firm with interests and relationships across the nuclear, energy, industrial and infrastructure sectors.