Tata Power Ltd. has taken over the management and operations of NESCO (North Eastern Electricity Supply Company of Odisha) upon completion of the sale process, the company announced on Thursday.
Now, NESCO will operate under the company name TP Northern Odisha Distribution Ltd. (TPNODL).
As per order issued by the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51% of equity with management control and the State-owned GRIDCO will have 49% equity stake in the company.
TP Northern Odisha Distribution Ltd (TPNODL) will now be responsible for the distribution and retail supply of electricity in five circles of NESCO covering close to two million consumers with annual input energy of 5450 MUs in areas of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar.
This covers a geographical spread of more than 27,500 sq km and a network of more than 90,000 CKT.KMs. for a license period of 25 years.
With this, Tata Power now distributes power in entire Odisha with a total customer base of 9 million.
Dr. Praveer Sinha, CEO & MD, Tata Power said,“We are committed to provide reliable, affordable and quality power supply along with superior customer service.”
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