~Tata Power holds 51 percent equity , 49 percent owned by Government of Odisha~
~Retains all the existing employees of NESCO; 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 NESCO ( North Eastern Electricity Supply Company of Odisha) upon completion of the sale process. Now, NESCO will operate under the company name as TP Northern Odisha Distribution Limited (TPNODL). 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 49 percent equity stake in the company.
TP Northern Odisha Distribution Limited (TPNODL) shall now be responsible for the distribution and retail supply of electricity in five circles of NESCO covering close to 2 million consumers with annual input energy of 5450 MUs in areas of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar. This covers a geographical spread of more than 27,500 sq km and a network of more than 90,000 CKT.KMs. for a license period of 25 years. With this, Tata Power now distributes power in the entire state of Odisha with a total customer base of 9 million.Tata Power consumer base now stands at 11.5 million across Mumbai, New Delhi, Odisha and Ajmer as the largest private sector power distribution company in the country.
Commenting on this occasion, Dr. Praveer Sinha, CEO & MD, Tata Power said, “It is a proud moment for us that on the auspicious occasion of “Utkal Diwas ‘, we have taken over the operations of NESCO 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 (Odisha Electricity Regulatory Commission) 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 2.6 GW of renewable energy assets in solar and wind accounting for 31% 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; 'TP 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 Northern ,Central, Western and Southern part of Odisha namely,” TP Northern Odisha Distribution Limited (TPNODL) “, “TP Central Odisha Distribution Limited”, “TP Western Odisha Distribution Limited” and “TP Southern Odisha Distribution Limited”. Tata Power is serving more than 11.5 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
