CCI clears Tata power’s purchase of NESCO Utility

The Competition Commission of India (CCI) has cleared Tata Power Company Ltd.’s purchase of 51% stake in North Eastern Electricity Supply Company of Odisha (NESCO Utility), the competition watchdog said in a statement on Friday.

Tata Power bought the utility form Grid Corporation of Odisha Ltd. in a competitive bidding initiated by the Odisha Electricity Regulatory Commission, the statement said. The clearance was given on Thursday, the statement said.

NESCO Utility, a more than two decade old entity, is distributing power in five districts of Odisha—Balasore, Bhadrak, Jajpur, Keonjhar and Baripada.