(ET)
Tata Power announced that it has taken over the management and operations of Odisha’s power distribution utilities WESCO and SOUTHCO upon completion of the sale process. With this, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Ltd (TPWODL) and TP Southern Odisha Distribution Ltd (TPSODL) respectively.
As per order issued by the Odisha Electricity Regulatory Commission (OERC), Tata Power holds 51 percent of equity with management control and the state-owned GRIDCO will have the remaining 49 percent equity stake in the company.
