Competition Commission approves majority acquisition of equity share capital of NESCO by Tata Power

The Competition Commission of India (CCI) has approved the acquisition of 51 per cent of the equity share capital of North Eastern Electricity Supply Company of Odisha (NESCO) by Tata Power Company Limited (TPCL) from Grid Corporation of Odisha Limited (GRIDCO).

The competitive bidding process was initiated by the Odisha Electricity Regulatory Commission (OERC). After the takeover, TPCL will serve a geographical area of more than 27,500 square km under the NESCO region, constituting areas of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar with more than 1.9 million consumers and an annual input energy of about 5,450 MUs with a network of more than 90,000 ckt km. The license period is for 25 years. Tata Power will now be serving the whole population of the state of Odisha amounting to nearly 9 million consumers.

GET ACCESS TO OUR ARTICLES

Enter your email address