Tata Power receives LoI for NESCO from OERC

Tata Power has received a letter of intent (LoI) from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in five circles of North Eastern Electricity Supply Company of Odisha Limited (NESCO). Tata Power will hold 51 per cent equity with management control and the remaining 49 per cent will be held by GRIDCO Limited. The geographical spread is more than 27,500 sq. km and serves over 1.9 million consumers with an annual input energy of 5,450 MUs.