CCI Approves Acquisition of 51% of Equity Share Capital in Each of 3 Odisha’s Electricity Supply Companies by Tata Power
New Delhi: The Competition Commission of India (CCI) today approved acquisition of 51% of the equity share capital in each of the three electricity supply companies of Odisha – Western Electricity Supply Company of Odisha (WESCO Utility), Southern Electricity Supply Company of Odisha Limited (SOUTHCO Utility) and Central Electricity Supply Company of Odisha Limited (CESCO Utility) by Tata Power Company Limited (TPCL).
Proposed combinations relate to acquisition of 51% of equity share capital in each utility by the TPCL from Grid Corporation of Odisha Limited (GRIDCO) pursuant to separate competitive bidding processes initiated by the Odisha Electricity Regulatory Commission (OERC) under Section 20 of the Electricity Act, 2003, the CCI said.
TPCL is a public listed company and is primarily engaged in the business of power generation, transmission and distribution. It is a part of the Tata group.
WESCO Utility is engaged in the business of distribution and retail supply of power in five western districts of Odisha – Rourkela (Sundargarh), Burla (Sambalpur), Bhawanipatna (Kalahandi), Bolangir and Bargarh.
SOUTHCO Utility is engaged in the business of distribution and retail supply of power in six southern districts of Odisha – City (certain areas in Ganjam District); Berhampur; Aska, Bhanjanagar; Jeypore; and Rayagada.
CESCO Utility is engaged in the business of distribution and retail supply of power in four central districts of Odisha – Bhubaneshwar , Cuttack, Paradeep and Dhenkanal.