Tata Power gets power distribution rights in 5 circles of CESU in Odisha
Tata Power Company has received the letter of intent (LoI) from Odisha Electricity Regulatory Commission for distribution of power in the five circles of Central Electricity Supply Utility (CESU) for the next 25 years. The five electrical circles include Bhubaneswar (Electrical Circle-I and II), Cuttack, Paradip and Dhenkanal, the company said in a statement.
The proposed sale of CESU will be through a special purpose vehicle (SPV), where Tata Power will own 51% stake in the SPV with their management, while the remainder 49% will be held by the government of Odisha.
