Tata Power has taken over the Central Electricity Supply Utility of Odisha (CESU).
Tata Power received the Letter of Intent (LoI) from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in Odisha’s five circles, consisting of Bhubaneshwar, Cuttack, Puri, Paradip and Dhenkanal, according to a company statement.
Tata Power has received a license for 25 years.
As per order issued by the Odisha Electricity Regulatory Commission (OERC) on 28th May, Tata Power will hold 51 per cent equity with management control and the remaining 49 per cent will be owned by Odisha government. CESU has revenues of Rs 3,200 crore with an average power demand of 4500 MW.
