India's POWERGRID and Nepal Electricity Authority (NEA) signed Joint Venture and Shareholders' Agreements on October 29, 2025, for two 400kV cross-border transmission lines: Inaruwa (Nepal) to New Purnea (India), and Lamki-Dododhara (Nepal) to Bareilly (India), with target completion by 2030.

The agreements were signed in the presence of Union Power Minister Manohar Lal and Nepal's Energy Minister Kulman Ghising. Two joint ventures will be formed — POWERGRID holds 51% in India and NEA 51% in Nepal. The MEA said the agreements demonstrate India's commitment to development cooperation and regional energy connectivity.