The Tata Power Company Limited announced that The Odisha Electricity Regulatory Commission (OERC), the Company has been selected as the successful bidder to own the licence for the distribution and retail supply of electricity in Odisha's five circles of North Eastern Electricity Supply Company of Odisha Limited (NESCO) Utility constituting the areas of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar. The proposed sale of NESCO Utility to the Company will be through the formation of a Special Purpose Vehicle (SPV) entity in which the Government of Odisha will own 49% in the equity share capital and the Company will hold balance 51% with their management.