CESC subsidiary set to acquire Chandigarh's power discom
POWER & RENEWABLE ENERGY

CESC subsidiary set to acquire Chandigarh's power discom

Kolkata-based Eminent Electricity Distribution Limited, a subsidiary of Calcutta Electricity Supply Corporation (CESC), has quoted the highest bid of Rs 8.71 billion to acquire a 100% equity stake in Chandigarh's power distribution company (discom).

According to sources of Mercom, Torrent Power, National Thermal Power Corporation Limited (NTPC Ltd), and ReNew Power had placed bids of Rs 6.06 billion, Rs 5.63 billion, and Rs 5.51 billion, each, in the competitive bidding process. While the Adani Group, Tata Power, and Sterlite Power had placed Rs 4.71 billion, Rs 4.26 billion, and Rs 2.01 billion, respectively.

CESC is the flagship company of the RP-Sanjiv Goenka Group, incorporated in 1978. The group into electricity generation and distribution. CESC is the electricity sole distributor within the 567 sq km region in Kolkata and Howrah and serves 2.9 million customers.

This decision comes after another successful discom privatisation deal closed in January this year, when Tata Power took over the management of Western Electricity Supply Company of Odisha Ltd (WESCO) and Southern Electricity Supply Company of Odisha (SOUTHCO).

The Chandigarh Administration had issued a request for proposal, inviting bidders to acquire its discom in November 2020, following the proposal of the Ministry of Finance to privatise discoms in the union territories of the country.

The High Court of Punjab and Haryana issued a stay order on the proposal of the central government to privatise discom in Chandigarh in December 2020.

The UT Powermen Union Chandigarh had filed a petition in the High Court, calling the step wrong and illegal as the discom has been operating in profits and observed surplus revenue for the last three years.

The High Court, in its order, had said that the matter required further deliberation and that it would be brought up for hearing within six months.

Image Source


Also read: Govt issues detailed guidelines to revamp discoms

Kolkata-based Eminent Electricity Distribution Limited, a subsidiary of Calcutta Electricity Supply Corporation (CESC), has quoted the highest bid of Rs 8.71 billion to acquire a 100% equity stake in Chandigarh's power distribution company (discom). According to sources of Mercom, Torrent Power, National Thermal Power Corporation Limited (NTPC Ltd), and ReNew Power had placed bids of Rs 6.06 billion, Rs 5.63 billion, and Rs 5.51 billion, each, in the competitive bidding process. While the Adani Group, Tata Power, and Sterlite Power had placed Rs 4.71 billion, Rs 4.26 billion, and Rs 2.01 billion, respectively. CESC is the flagship company of the RP-Sanjiv Goenka Group, incorporated in 1978. The group into electricity generation and distribution. CESC is the electricity sole distributor within the 567 sq km region in Kolkata and Howrah and serves 2.9 million customers. This decision comes after another successful discom privatisation deal closed in January this year, when Tata Power took over the management of Western Electricity Supply Company of Odisha Ltd (WESCO) and Southern Electricity Supply Company of Odisha (SOUTHCO). The Chandigarh Administration had issued a request for proposal, inviting bidders to acquire its discom in November 2020, following the proposal of the Ministry of Finance to privatise discoms in the union territories of the country. The High Court of Punjab and Haryana issued a stay order on the proposal of the central government to privatise discom in Chandigarh in December 2020. The UT Powermen Union Chandigarh had filed a petition in the High Court, calling the step wrong and illegal as the discom has been operating in profits and observed surplus revenue for the last three years. The High Court, in its order, had said that the matter required further deliberation and that it would be brought up for hearing within six months. Image Source Also read: Govt issues detailed guidelines to revamp discoms

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?