Power Grid, Nepal Authority to set up two JVs for cross-border transmission links

Power Grid Corp. of India Ltd. and the Nepal Electricity Authority will set up two joint venture firms in India and Nepal to develop high-capacity cross-border power transmission infrastructure, the company said in a filing on Saturday.

The projects include the Inaruwa–New Purnea 400 kilovolt double circuit (quad moose) line and the Lamki–Bareilly 400 kilovolt double circuit (quad moose) link.

Power Grid will hold a 51% stake in the Indian JV, while the Nepal Electricity Authority will hold 49%. In the Nepal JV, the Nepal Electricity Authority will hold 51% and Power Grid will hold 49%. Power Grid can nominate three directors to the Indian JV and two to the Nepal JV, while the Nepal Electricity Authority can nominate two directors in each JV.