I am running JDK 1.7 & Windows 7 using netbeans 7.2 I have generated a SSH private & public key pair (SSH2-2048 bits) using putty-keygen. I do not have any password
I guess that your key is not in OpenSSH key file format. JSch expects the private key to be in OpenSSH format.
You can use PuTTYgen to convert your private key to work with OpenSSH by following the steps described here: