The Nepal Electricity Authority (NEA) is investing Rs 3 billion in a joint venture (JV) to develop two cross-border transmission lines.
According to the Ministry of Energy, Water Resources and Irrigation, the JV will be funded jointly by the NEA and India’s Power Grid Corporation.
The Ministry stated that Rs 1 billion will be invested in the JV company to be established in Nepal and Rs 2 billion in the company to be set up in India as equity share. The NEA will invest the required amount from its internal financial resources.
As agreed earlier between officials of both countries, the JV will undertake the construction of the Inaruwa–Purnia and Dodhara–Bareli cross-border transmission lines.
These important transmission lines, which will facilitate energy exchange between Nepal and India, are expected to be completed by 2030.
In the JV company to be established in Nepal, the NEA will hold 51 percent of the shares, while India’s Power Grid Corporation will hold 49 percent.
