The Competition Commission of India (CCI) has approved acquisition of 51% of the equity share capital of North Eastern Electricity Supply Company of Odisha (NESCO Utility) by The Tata Power Company (TPCL) from Grid Corporation of Odisha (GRIDCO) under Section 31(1) of the Competition Act, 2002, on March 18, 2021.
The proposed combination relates to the acquisition of 51% of the equity share capital of NESCO Utility by the TPCL from GRIDCO pursuant to the competitive bidding process initiated by the Odisha Electricity Regulatory Commission (OERC) under Section 20 of the Electricity Act, 2003.
Tata Power is India’s largest integrated power company.
