The company has expanded its consumer base to 95 lakh from the present base of 52 lakh.
Tata Power takes over power distribution in western, southern Odisha ANI | Updated: Jan 08, 2021 13:25 IST
As per order issued by the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51 per cent of equity with management control and the state-owned Grid Corporation of Odisha (GRIDCO) will have the remaining 49 per cent.
TPWODL will be responsible for the distribution and retail supply of electricity in five circles of WESCO covering 20 lakh consumers with annual input energy of 7,520 million units in areas of Rourkela, Burla, Bhawanipatna, Bolangir and Bargargh.
Tata Power rose 2.63% to Rs 84 after the company announced completion of acquisition of 51% equity shares of TP Southern Odisha Distribution and TP Western Odisha Distribution.Tata Power announced that it has taken over the management and operations of WESCO and SOUTHCO upon completion of sale process. Now, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution (TPWODL) and TP Southern Odisha Distribution (TPSODL) respectively. 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 the remaining 49% equity stake in the company.
Tata Power takes over power distribution in Western and Southern Odisha from 1st January 2021 onwards
Posted On: 2021-01-07 05:05:35 (Time Zone: Arizona, USA)
Tata Power, India s largest integrated power utility, today, announced that it has taken over the management and operations of WESCO and SOUTHCO upon completion of sale process. Now, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Limited (TPWODL) and TP Southern Odisha Distribution Limited (TPSODL) respectively. As per order issued by the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51 percent of equity with management control and the State-owned GRIDCO will have the remaining 49 percent equity stake in the company.
Tata Power takes over power distribution in western, southern Odisha
By IANS |
Published on
Thu, Jan 7 2021 19:27 IST |
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Tata Power on Thursday announced that it has taken over the management and operations of Odisha s power distribution utilities WESCO and SOUTHCO upon completion of the sale process.. Image Source: IANS News
New Delhi, Jan 7 : Tata Power on Thursday announced that it has taken over the management and operations of Odisha s power distribution utilities WESCO and SOUTHCO upon completion of the sale process.
With this, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Ltd (TPWODL) and TP Southern Odisha Distribution Ltd (TPSODL) respectively.