CCI clears Tata Power's acquisition of stakes in three Odisha power utilities

Tata Power Company's proposed purchase of 51 per cent stake each in three power utilities in Odisha has been cleared by fair trade regulator 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).

The deal comes after separate competitive bidding processes initiated by the Odisha Electricity Regulatory Commission.

The Competition Commission of India (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.