Constituting areas of Bhubaneswar (Electrical Circle - I and II), Cuttack, Paradip and Dhenkanal
Tata Power Company has received Letter of Intent (LOI) issued by The Odisha Electricity Regulatory Commission (OERC). The Company has been selected as the successful bidder to own the licence for the distribution and retail supply of electricity in Odisha's five circles, together constituting Central Electricity Supply Utility of Odisha (CESU).The five electrical circles constituting CESU are the areas of Bhubaneswar (Electrical Circle - I and II), Cuttack, Paradip and Dhenkanal. The license is being offered for 25 years initially.
The proposed sale of CESU to the Company will be through the formation of a Special Purpose Vehicle (SPV) entity in which the Government of Odisha will own 49% in the equity share capital and the Company will hold balance 51% with their management.
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