~Tata Power holds 51 percent equity along with 49 percent by Government of Odisha~
~Retains all the existing employees of WESCO and SOUTHCO; aims to create a successful PPP model in Power Sector~
Tata Power, India’s largest integrated power utility, today, announced that it has taken over the management and operations of WESCO and SOUTHCO upon completion of sale process. Now, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Limited (TPWODL) and TP Southern Odisha Distribution Limited (TPSODL) respectively. As per order issued by the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51 percent of equity with management control and the State-owned GRIDCO will have the remaining 49 percent equity stake in the company.
TP Western Odisha Distribution Limited (TPWODL) shall now be responsible for the distribution and retail supply of electricity in five circles of WESCO covering 2 million consumers with annual input energy of 7520 MUs in areas of Rourkela, Burla, Bhawanipatna, Bolangir, Bargargh, while TP Southern Odisha Distribution Limited (TPSODL) will be responsible for the distribution covering 2.3 million consumers with average energy input of 3470 MUs and retail supply of electricity in six circles of SOUTHCO in areas of Ganjam City, Berhampur, Aksa, Bhanjannagar, Jeypore and Rayagada.
With this takeover, the company’s distribution circles will expand to the western (TPWODL) and southern part (TPSODL) of Odisha with geographical spread of more than 47,000 sq km each. It will manage a network of more than 100,000 CKT. KMs. each for a license period of 25 years.
With the inclusion of two additional distribution utilities, Tata Power expands its consumer base to 9.5 million from the present base of 5.2 million across Mumbai, New Delhi, Central part of Odisha and Ajmer.
Commenting on this occasion Mr Praveer Sinha, CEO & MD, Tata Power said, “It is a proud moment for us as we have ushered in the new year by commencing operations in WESCO and SOUTHCO in State of Odisha. We are committed to provide reliable, affordable and quality power supply along with superior customer service. We are thankful to the Odisha Government and OERC for giving us this opportunity and reaffirm Tata Power’s commitment of ‘Lighting up Lives’ for the people of Odisha.”
Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed/ managed capacity of 12,772 MW. A pioneer in the field, it has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, trading and coal & freight logistics. With nearly 2.6GW of renewable energy assets in solar and wind accounting for 30% of the company's portfolio, Tata Power is a leader in clean energy generation. In line with the company's view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, micro grids and home automation & smart meters. It has successful public-private partnerships in generation, transmission & distribution in India, namely ‘Tata Power Delhi Distribution Ltd.’ with Delhi Vidyut Board for distribution in North Delhi; 'Tata Power Ajmer Distribution Ltd.' with Ajmer Vidyut Vitran Nigam Ltd. for distribution in Ajmer; 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi; 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand and recently entered into public-private partnership for Central part of Odisha namely, “Tata Power Central Odisha Distribution Company Limited”. Tata Power is serving more than 9.5 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology.
With its 105 years track record of technology leadership, project execution excellence, world-class safety processes, customer care and driving green initiatives, Tata Power is poised for multi-fold growth and committed to 'lighting up lives' for generations to come. Visit us at: www.tatapower.com
