Power Grid, Nepal Electricity Authority Sign Joint Ventures for Key Cross-Border Transmission Corridors
The Power Grid Corporation of India Ltd (POWERGRID) and the Nepal Electricity Authority (NEA) have signed two Joint Venture and Shareholders’ Agreements to develop major 400 kV cross-border transmission corridors aimed at boosting electricity trade and strengthening regional grid stability.
Under the agreements, the two sides will establish separate joint venture companies (JVCs) in India and Nepal to construct high-capacity 400 kV Double Circuit (Quad Moose) transmission lines on both sides of the border. The projects include the Inaruwa (Nepal)–New Purnea (India) link and the Lamki (Dododhara) (Nepal)–Bareilly (India) corridor.
Equity participation will alternate between the two countries. In the Indian JVC, POWERGRID will hold a 51 percent stake and NEA 49 percent. In the Nepal-based JVC, NEA will hold 51 percent while POWERGRID will take 49 percent.
Board structures for the joint ventures have also been finalized. The Indian JVC will have five directors—three nominated by POWERGRID and two by NEA. The Nepal JVC will include two NEA-nominated directors, one independent director recommended by NEA, and two directors from POWERGRID.
Officials said the planned corridors are critical to expanding the India–Nepal energy partnership and will significantly enhance cross-border power flows, grid reliability and regional energy security across South Asia.
