Tata Power receives LoI for Odisha's WESCO and SOUTHCO

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 WESCO consisting of Rourkela, Burla, Bhawanipatna, Bolangir, Bargargh and six circles of SOUTHCO consisting of Ganjam City, Berhampur, Aksa, Bhanjannagar, Jeypore and Rayagada.

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.

The license enables Tata Power to serve the consumers of Western part (WESCO) and Southern part (SOUTHCO) of Odisha with geographical spread of more than 47,000 Sq km each and will manage network of more than 100,000 ckt. kms. each. The license period for the two Distribution Utilities shall be 25 years. While WESCO serves close to 2.0 million consumers with annual input energy of 7520 MUs, SOUTHCO serves close to 2.3 million consumer with annual input energy of 3470 MUs. With WESCO and SOUTHCO, with the addition of both the discoms, Tata Power's consumer base will reach 10 million consumers from the present base of 5.7 million across Mumbai, Delhi, Central part of Odisha and Ajmer.

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