Powergrid has entered into Joint Venture Agreements with Nepal Electricity Authority (NEA) to establish two Joint Venture Companies (JVCs) for developing high-capacity cross-border power transmission infrastructure. These JVCs, one in India and one in Nepal, will facilitate the Inaruwa-New Purnea and Lamki (Dododhara)-Bareilly transmission links. Powergrid will hold 51% equity in the Indian JVC and 49% in the Nepalese JVC.
Cross-Border Transmission Projects
Powergrid has formalized Joint Venture Agreements (JV&SHA) with Nepal Electricity Authority (NEA) as of October 29, 2025, to establish two Joint Venture Companies (JVCs). This initiative aims to enhance high-capacity cross-border power transmission infrastructure between India and Nepal.
Joint Venture Details
Two key projects are included:
* Inaruwa (Nepal) – New Purnea (India) 400 kV Double Circuit (Quad Moose) Transmission Link
* Lamki (Dododhara) (Nepal) – Bareilly (India) 400 kV Double Circuit (Quad Moose) Transmission Link
Equity and Management Structure
For the JVC based in India, Powergrid will hold a 51% equity stake, while NEA will hold 49%. This JVC will have five directors, with Powergrid nominating three and NEA nominating two.
Conversely, in the Nepalese JVC, Powergrid will hold 49% of the equity, and NEA will hold 51%. Similar to the Indian JVC, the board will consist of five directors, with Powergrid nominating two, and NEA nominating two with recommendation for one independent director.
Both JVCs will issue equity shares initially to Powergrid and NEA in proportion to their agreed shareholding at par value.
Source: BSE
