The Tata Power on Thursday took over management and operations of Nesco upon completion of the sale process. Now, Nesco will operate under the company name as TP Northern Odisha Distribution Limited (TPNODL).
As per order issued by the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51 per cent of equity with management control and the State-owned Gridco will have 49 per cent equity stake in the company. The TPNODL shall now be responsible for distribution and retail supply of electricity in five circles of Nesco covering close to 2 million consumers with annual input energy of 5450 MUs in areas of Baleswar, Bhadrak, Baripada, Jajpur and Keonjhar.
