Tata Power Company's planned purchase of 51 per cent stake each in three power utilities in Odisha has been cleared by fair trade regulator CCI.
The firm is to buy the stakes in Western Electricity Supply Company of Odisha (WESCO), Southern Electricity Supply Company of Odisha Ltd (SOUTHCO) and Central Electricity Supply
Company of Odisha Ltd (CESCO).
TPCL is a public listed firm and is primarily engaged in the business of power generation, transmission and distribution. It is a segment of the Tata group.
The contract comes after separate competitive bidding processes introduced by the Odisha Electricity Regulatory Commission. The Competition Commission of India (CCI) has accepted the proposed combinations, according to a release issued on Tuesday.
WESCO is into distribution and retail supply of power in five western districts -- Rourkela, Burla (Sambalpur), Bhawanipatna (Kalahandi), Bolangir and Bargarh.
SOUTHCO assists six districts, including Berhampur, Aska, Bhanjanagar, Jeypore and Rayagada. CESCO caters to four central districts -- Bhubaneshwar (Bhubaneshwar 1 and Bhubaneshwar 2), Cuttack, Paradeep and Dhenkanal.
