Page 46 - Policy Economic Report - October 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

outlined India’s ambitious clean energy goals, of establishing itself as a global hub for green hydrogen
production, advancing sustainable development, and achieving 100 GW of nuclear power capacity by
2047.

India’s Biofuels Programme was also highlighted as a major success, marked by the achievement of 20%
ethanol blending and the country’s leadership in the Global Biofuels Alliance, which now includes 32
countries and 14 international organizations.

Acknowledging the disproportionate impact of climate change on developing nations, Shri Manohar Lal
called for climate justice, stressing the importance of climate finance and technology transfer
commitments under the Paris Agreement.

Drawing attention to the energy access gap in Africa, the Minister reaffirmed India’s support for Africa’s
Mission 300, an initiative to electrify 300 million Africans by 2030.

In closing, Shri Manohar Lal called upon all nations to work together to build resilient, sustainable and
equitable energy systems and extended an invitation for the upcoming Bharat Urja Manthan – A Global
Energy Conclave, scheduled for March 2026 in New Delhi, India.

India and Nepal Strengthen Power Sector Cooperation: Nepal’s Minister of Energy H.E. Kulman
Ghising meets Union Minister Shri Manohar Lal

The Minister for Energy, Water Resources and Irrigation of Nepal, His Excellency Kulman Ghising, met
with the Union Minister of Power and Housing & Urban Affairs, Shri Manohar Lal, in New Delhi. The
meeting focused on strengthening the ongoing cooperation between the two nations in the power
sector.

The discussions encompassed a wide range of issues, including the progress on development of
hydropower projects in Nepal. The two sides also deliberated on regional grid connectivity initiatives
aimed at facilitating cross-border electricity trade, strengthening energy security, and promoting greater
integration of clean energy resources between India and Nepal.

In the august presence of Shri Manohar Lal and Shri Kulman Ghising, Joint Venture and Shareholders’
Agreements (JV&SHA) were signed between POWERGRID, a Maharatna Central Public Sector Enterprise
(CPSE) of India, and the Nepal Electricity Authority (NEA). These agreements are for the incorporation of
two joint venture entities - one in India and one in Nepal - for the development of high-capacity cross-
border power transmission infrastructure.

The proposed Cross-Border Transmission System Projects include the development of the Inaruwa
(Nepal) – New Purnea (India) 400 kV Double Circuit (Quad Moose) Transmission Link and Lamki
(Dododhara) (Nepal) – Bareilly (India) 400 kV Double Circuit (Quad Moose) Transmission Link. Once
completed, these transmission corridors will substantially enhance the electricity exchange between
India and Nepal, strengthening regional energy security, improving grid resilience, and contributing to
sustained economic growth in both nations.

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