Tata Power secures LoI for Odisha’s WESCO and SOUTHCO discoms; shares up over 3 pct
Integrated power utility company 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 Odisha’s five circles of WESCO, the company said in a regulatory filing
As per conditions of Bid Documentation, Tata Power will hold 51 percent equity with management control and the State-owned GRIDCO will have the remaining 49 percent equity stake in the company. Source: Website