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Quitol (Goa): JSW Energy will start construction of its first nuclear power plant in the next three-to-four years, Neeraj Agarwal, President (Nuclear Energy), said, as the company moves ahead with land acquisition and technology evaluations. “Land acquisition is underway for a 700 MW nuclear power project,” Agarwal said, adding that the company is assessing large reactor technologies, including 700-megawatt Pressurised Heavy Water Reactors (PHWRs), as well as larger 1,000-megawatt options. He was speaking at a panel discussion on nuclear energy at India Energy Week (IEW) 2026.
On investments, Agarwal said construction costs are being benchmarked at around Rs 16–20 crore per megawatt. “Per megawatt, construction cost will vary from Rs 16-to-20 crore. Depending on how much capacity comes, we can multiply that,” he said.
He said the company is not committing to a fixed capacity number at this stage. “We are still evaluating. First we have to understand the technology. To understand the technology, we will make the first plant, understand everything, see the dynamics of it, and then we will expand.”
JSW Energy is looking at a mix of reactor sizes, including small modular reactors (SMRs). “It will be a mix of different sizes. We are going for SMRs, 7 megawatts,” he said, while adding that the overall gigawatt-scale portfolio is still under evaluation.
Agarwal said site selection is being guided by regulatory and technical constraints. “Location can be seen because today we need an exclusion zone. Close to our steel plant, definitely a lot of population has come, so we have to go slightly away,” he said.
He added that access to water supply, seismic conditions and specific ground requirements are critical. “All the requirements — water, seismic zone, earth conditions — wherever we meet them, we will go there,” he said, noting that power evacuation within a state would not be an issue.
The company is studying multiple sites, though Agarwal said the exact number was confidential.
JSW Energy is exploring technical collaborations rather than outright technology transfers. “We are looking at technical collaborations, not technology transfer,” Agarwal said. “We want partners who will enable us to make in India and make for the world, not someone who just wants to localise components.”
Timely execution will be a key criterion in partner selection. “Since time is a constraint, we want someone who can complete the project on time, because most projects face delays,” he said.
The company plans to pursue both captive and commercial nuclear projects.
On staffing, Agarwal said nuclear projects require specialised manpower across multiple stages. “For two units of 700 megawatts, we need around 650 engineers,” he said, covering design, procurement, construction, commissioning and operations and maintenance.
He said JSW Energy is leveraging existing internal capabilities while tapping external expertise. “A lot of expertise is already available. For land acquisition, planning and civil, that expertise is there. We have also taken some retired people, and wherever we need expertise, we tap it,” he said.
Training of core specialists has already begun, Agarwal added.
Agarwal said keeping construction costs under control remains a priority. “We are also trying to keep the cost of construction low so that power is cheap,” he said, underscoring the company’s focus on affordability alongside scale and technology learning.
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