Tata Power acquires 51% stake in power distribution in Odisha

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Tata Power has announced that it has taken over the management and operations of NESCO (North Eastern Electricity Supply Company of Odisha) due to the completion of the sale process. NESCO will operate under the company name 'TP Northern Odisha Distribution Limited' (TPNODL). Tata Power holds 51% of the equity with management control, while the State-owned GRIDCO will have a 49% equity stake in the company.

TP Northern Odisha Distribution Limited (TPNODL) will be responsible for the distribution and retail supply of electricity in five circles of NESCO providing to almost 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.

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