Tata Power said Friday it received the letter of intent (LoI) from the Odisha Electricity Regulatory Commission for distribution of power to consumers in western and southern parts of the state through the respective discoms, Wesco and Southco, for the next 25 years. The company had, last December, won the distribution license for CESU, another Odisha discom. It is also the sole bidder for Nesco, the remaining discom in the state.
Tata Power will own a 51 per cent stake in the discoms, while the remainder 49 per cent will be held by the government of Odisha. In FY19, the four Odisha discoms had cumulatively posted a loss of Rs 1,539 crore, of which Nesco losses comprised only Rs 2 crore.
