The proposal by NUkler Products to develop a Small Modular Reactor-based clean energy project in Telangana marks a potentially significant shift in India’s sub‑national energy transition strategy.

NUkler Products, a joint venture backed by Slovakia-based IQ Capital and India-based Green House Enviro, has submitted an Expression of Interest to the Telangana government for setting up an SMR facility with an installed capacity of up to 300 MW.

With a projected investment of around EUR 600 million, equivalent to roughly ₹6,000 crore, the project is positioned as a long-term, low-carbon baseload power solution rather than a short-term pilot.

The Expression of Interest was formally shared during a high-level interaction between NUkler’s leadership and the ‘Telangana Rising’ delegation led by Chief Minister A Revanth Reddy at Davos. Representing the Slovak–Indian joint venture were Jan Babic, Group Chairman of IQ Capital, Anil Kumar Bavissetty, Group CEO and Director of IQ Capital, and Molugu Sripal Reddy, CEO and Director of Green House Enviro.

Also present was Matus Gemes, the Honorary Consul of the Slovak Republic to the Principality of Liechtenstein, underlining the diplomatic and cross-border investment dimension of the proposal. The setting in Davos, on the sidelines of the World Economic Forum’s 2026 Annual Meeting, underscores the state government’s intent to pitch Telangana as a serious destination for advanced clean energy technologies.

From Telangana’s perspective, the overture aligns with its declared ambition to pursue a net-zero development pathway by 2047. Chief Minister Revanth Reddy reiterated that sustainability is a central pillar of the state’s growth model, and that his administration is open to novel clean energy architectures that complement existing renewable and conventional capacity.

By signalling political support at the chief ministerial level, Telangana is attempting to position itself ahead of other Indian states in attracting frontier nuclear and clean-tech investments.

The presence of Industries Minister D Sridhar Babu and Revenue Minister Ponguleti Srinivasa Reddy in the delegation further reflects that the proposal is being examined not merely as a technical pilot, but as a potential anchor investment with wider industrial and fiscal implications.

Small Modular Reactors are being promoted globally as a next-generation nuclear technology that can offer flexible, scalable and relatively safer nuclear power compared with traditional large reactors. With their lower unit capacity, modular design, and potential for factory fabrication, SMRs are seen as suitable for integration with industrial clusters, desalination plants, and green hydrogen production, in addition to grid-based electricity supply.

For a rapidly industrialising state like Telangana, a 300 MW SMR installation could provide round-the-clock, low-carbon baseload support to critical manufacturing zones, IT parks and large infrastructure projects, helping to stabilise a grid that is increasingly dependent on variable renewable energy.

If advanced to the project development stage, the SMR initiative could trigger a range of secondary benefits for Telangana. These may include localisation of certain components and services, opportunities for technology partnerships between European and Indian firms, and the creation of a skilled talent pool in nuclear engineering, safety, and operations.

The involvement of Green House Enviro as the Indian partner indicates an attempt to couple international nuclear technology with domestic environmental and project management capabilities. In parallel, Telangana could leverage such a flagship project in its investment promotion campaigns to signal its openness to complex, capital-intensive, and high-technology ventures in clean energy.

However, any SMR project in India will have to navigate a complex policy and regulatory landscape, including central government oversight, nuclear liability frameworks, and stringent safety approvals. While the Expression of Interest is a preliminary step that signals intent rather than commitment, it sets in motion a process of technical, financial and regulatory due diligence.

Key aspects that will need clarity include the specific SMR technology on offer, its level of international licensing and operational track record, fuel supply arrangements, waste management strategies, and the delineation of roles between the state government, the central government, and private or joint-venture entities.

The timing of the proposal at the World Economic Forum’s 2026 Annual Meeting, themed “A Spirit of Dialogue,” is also symbolically relevant. The project exemplifies the kind of cross-border collaboration that the WEF seeks to promote—linking European capital and technology with Indian market potential and decarbonisation needs.

For Slovakia, participation in such a project can strengthen its emerging profile in advanced nuclear and climate-friendly infrastructure investments. For India, and particularly Telangana, partnering on SMR development could reinforce narratives around innovation-led, low-carbon growth, especially if the project is structured to complement national targets on non-fossil electricity capacity and emissions intensity reduction.

If realised, the proposed EUR 600 million SMR-based clean energy project would stand out as one of the more ambitious state-level clean baseload power initiatives in India.

It would signal a willingness on the part of Telangana’s leadership to move beyond conventional renewables and legacy thermal plants, towards a more diversified, technology-rich energy mix.

Over the coming months, the seriousness of the proposal will be tested through detailed feasibility assessments, engagement with central nuclear authorities, and alignment with India’s broader nuclear policy regime.

Nonetheless, the submission of the Expression of Interest itself marks an important opening gambit in what could become a landmark public–private and international collaboration in India’s clean energy landscape.

Based On ANI Report