Tata Power on Monday announced that it has received the Letter of Intent (LoI) from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in Odisha’s five circles of North Eastern Electricity Supply Company of Odisha Limited (NESCO) Utility.

The areas include Balasore, Bhadrak, Baripada, Jajpur and Keonjhar.

According to the conditions as per Bid Documentation Tata Power will hold 51 per cent equity with management control and the State-owned GRIDCO will have the remaining 49 per cent equity stake in the company, Tata Power said in an official press release.

The power company’s distribution circles will expand to NESCO with the geographical spread of more than 27,500 sq km with the takeover. It shall serve over 1.9 million consumers with annual input energy of 5450 MUs. It will manage a network of more than 90,000 CKT. KMs. for a license period of 25 years, the company said.

The company will now provide services to the entire population of the State of Odisha with nearly 9 million consumers with the inclusion of additional distribution utility of the state.

The company year had received the LoI OERC for the distribution and retail supply of electricity in Odisha covering five circles of WESCO consisting of Rourkela, Burla, Bhawanipatna, Bolangir, Bargargh and six circles of SOUTHCO consisting of Ganjam City, Berhampur, Aksa, Bhanjannagar, Jeypore and Rayagada.

Praveer Sinha, CEO & MD, Tata Power said, “It is a proud moment for to have been given the opportunity to serve people of Odisha. We are committed to provide reliable, affordable and quality power supply along with superior customer service, backed by innovative technology.”

This expansion increases Tata Power’s consumer base to nearly 12 million from the present base of 9.6 million across Mumbai, New Delhi, Ajmer, Central, Southern and Western parts of Odisha.

Related Topics
comment COMMENT NOW