Bhubaneswar: Tata Power took over the management and operation of NESCO (North Eastern Electricity Supply Company, Odisha) on Thursday after the sales process was completed. The country's largest integrated utility company said NESCO will now operate under the name TP Northern Odisha Distribution Limited (TPNODL).
Under the order of the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51 percent of the equity under management control, and the state-owned GRIDCO will own 49 percent of the shares in the company.
TP Northern Odisha Distribution Limited (TPNODL) will now be responsible for the distribution and retail supply of electricity in five NESCO counties serving nearly 2 million consumers with an annual input energy of 5450 MU in Balasore, Bhadrak, Baripada, Jajpur and Keonjhar districts .
This covers a geographical area of more than 27,500 km² and a network of more than 90,000 CKT km for a license period of 25 years. Tata Power now distributes electricity throughout the state of Odisha with a total of 9 million customers.
Tata Power's consumer base is now 11.5 million in Mumbai, New Delhi, Odisha and Ajmer as the largest private power distribution company in the country.
“It is a proud moment for us to have taken over the operation of NESCO in Odisha on the auspicious occasion of ‘Utkala Diwas'. We strive to provide a reliable, affordable and high-quality power supply along with excellent customer service,” said so Praveer Sinha, CEO and MD, Tata Power, said in a statement.