Tata Power Co. Ltd. is among two bidders in the race to acquire Central Electricity Supply Utility of Odisha (CESU Odisha) in what would be the first such deal in nearly two decades in India’s power sector.
Feedback Energy Distribution Co. Ltd (FEDCO) and India Power Corp. Ltd have also placed a joint bid for the asset, the bidding companies and the manager to the sale told Mint.
The potential sale would be the first transaction since the 2003 privatisation of power distribution in Delhi. India Power is part of Kolkata-based Kanoria Foundation Group while FEDCO is a subsidiary of Feedback Infra Pvt. Ltd.
Tata Power confirmed its bid for CESU Odisha in an emailed reply to a query but did not give details. Read more