NEW DELHI: Tata Power on Monday said it has bagged a 25-year licence for distribution and retail supply of electricity in Odisha’s five circles for about Rs 175 crore. The company said it will form a Special Purpose Vehicle (SPV) entity, meaning a subsidiary, in which the state government will own 49 per cent equity and the remaining 51 per cent will be owned by Tata Power.
“Our focus has been on increasing the company’s existing footprint in distribution of electricity through public-private-partnerships with discoms. This tie-up with CESU is the latest such partnership in the distribution business,” said Praveer Sinha, CEO and MD, Tata Power, adding the company aims to grow its power distribution business four-fold in the next three years.
