The Business Bytes
TBB BUREAU
BHUBANESWAR, JANUARY 7, 2021
Tata Power, India’s largest integrated power utility, on Thursday 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 names TP Western Odisha Distribution Limited (TPWODL) and TP Southern Odisha Distribution Limited (TPSODL), respectively.
With this takeover, the company’s distribution circles will expand to the western and southern part of Odisha with geographical spread of more than 47,000 sq km each. It will manage a network of more than 100,000 CKT. KMs. each for a license period of 25 years.
As per the 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.
TP Western Odisha Distribution Limited (TPWODL) shall now be responsible for the distribution and retail supply of electricity in five circles of WESCO covering 2 million consumers with annual input energy of 7520 MUs in areas of Rourkela, Burla, Bhawanipatna, Bolangir, Bargargh; while TPSODL will be responsible for the distribution covering 2.3 million consumers with average energy input of 3470 MUs and retail supply of electricity in six circles of SOUTHCO in areas of Ganjam City, Berhampur, Aksa, Bhanjanagar, Jeypore and Rayagada.
Commenting on the development, Tata Power CEO & Managing Director Praveer Sinha said, “It is a proud moment for us as we have ushered in the New Year by commencing operations in WESCO and SOUTHCO in State of Odisha. We are committed to provide reliable, affordable and quality power supply along with superior customer service.”
