Tata Power 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 NESCO constituting the areas of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar. As per conditions of Bid Documentation, Tata Power will hold 51 percent equity with management control and the State-owned GRIDCO will have the remaining 49 percent equity stake in the company.
With the inclusion of additional distribution utility of Odhisa, Tata Power shall now have privilege to serve entire population of State of Odisha with nearly 9 million consumers shall now experience uniform processes and synergies in operations across the State. This expansion shall enhance Tata Power 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.
Tata Power is India’s largest integrated power company.
