Tata Power receives LoI for NESCO from OERC

Tata Power has received a letter of intent (LoI) from the Odisha Electricity Regulatory Commission (OERC) for distribution and retail supply of electricity in five circles of North Eastern Electricity Supply Company of Odisha (NESCO) constituting areas of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar. …

As per the bid documentation, Tata Power will hold 51 percent equity with management control and the GRIDCO Limited will hold the remaining 49 percent equity stake in the company. NESCO has a geographical spread of more than 27,500 sq km and serves over 1.9 million consumers with annual input energy of 5,450 MUs. Further, the company will manage a network of more than 90,000 ckt km for a license period of 25 years. Earlier in December 2019, Tata Power had announced its successful entry into the state of Odisha when it won the bid to acquire a major shareholding of 51 percent in the Central Electricity Supply Utility (CESU) of Odisha. Subsequently in December 2020, it won the bid for Western Electricity Supply Utility of Odisha Limited (WESCO) and Southern Electricity Supply Utility of Odisha Limited (SOUTHCO).

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