The Tata Power Company Limited’s (TPCL) proposed purchase of 51% stake each in three power utilities in Odisha has been cleared by the fair trade regulator Competition Commission of India (CCI).
The company is to buy the stakes in Western Electricity Supply Company of Odisha (WESCO), Southern Electricity Supply Company of Odisha Ltd (SOUTHCO) and Central Electricity Supply Company of Odisha Ltd (CESCO).
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.
The deal comes after separate competitive bidding processes initiated by the Odisha Electricity Regulatory Commission.
The CCI has approved the proposed combinations, according to a release issued on Tuesday.
WESCO is into distribution and retail supply of power in five western districts — Rourkela, Burla (Sambalpur), Bhawanipatna (Kalahandi), Bolangir and Bargarh.
SOUTHCO serves six districts, including Berhampur, Aska, Bhanjanagar, Jeypore and Rayagada.
CESCO caters to four central districts — Bhubaneshwar (Bhubaneshwar 1 and Bhubaneshwar 2), Cuttack, Paradeep and Dhenkanal.
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