Bhubaneswar: The Odisha Electricity Regulatory Commission (OERC) has convened a pre-bid meeting on January 3, 2020 to discuss about the privatization of the three other power distribution companies (Discoms) – Southco, Nesco and Wesco- in the State.
Meanwhile, the regulatory body has invited Request for Proposal(RFP) for sale of three Discoms. The sale of RFP will be closed on February 6, 2020. The interested bidders will have to purchase the RFP document by depositing Rs 5 lakh and 18% GST. The last date for submission of bid will be five weeks from the date of revised RFP document/ clarification, if any, by the OERC after taking in to account the pre-bid queries.
The OERC has hired International reputed rating agency Crisil as transaction advisor for the sale of Southco and Wesco while Deloitte India has been appointed as advisor for privatization of Nesco.
Three Discoms were under the management control of Reliance Infra. The Anil Ambani Group company, however, abandoned the management when the losses were piled up.
The OERC has recently handed over the Letter of Intent (LoI) to Tata Power for sale of 51 % stake in Cesu.