New Delhi: Tata Power NSE 3.47 % on Friday said that it has received letter of intent (LOI) for Odisha’s WESCO and SOUTHCO power distribution utilities (discoms). Tata Power has received the Letter of Intent from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in Odisha’s five circles of WESCO and six circles of SOUTHCO, a company statement said.
As per conditions of bid documentation, Tata Power will hold 51 per cent equity with management control and the state-owned GRIDCO will have the remaining 49 per cent equity stake in the company.
