Damodar Valley plans foray into power retailing
Following, JSEB’s decision to relinquish its distribution licence in these areas, DVC will float an expression of interest (EoI) to select its joint venture partner. “CESC which has shown interest and may also respond to the proposed EoI,” said DV...
By Debjoy Sengupta, TNN |
KOLKATA: DAMODAR Valley Corporation (DVC) has decided to undertake retail power distribution in its command area in Jharkhand. This follows Jharkhand State Electricity Board’s (JSEB) decision to exit from the power distribution within DVC’s command area.
Interestingly, RPG flagship CESC is in talks with DVC to take up power distribution in Jharkhand through a JV company. “Our competency lies in retail distribution and that’s what we do in Kolkata and Greater Noida. CESC is interested in teaming up with DVC for a distribution venture in Jharkhand, but DVC will have to take the final call in selecting their partner,” CESC’s MD Sumantra Banerjee told ET.
Following, JSEB’s decision to relinquish its distribution licence in these areas, DVC will float an expression of interest (EoI) to select its joint venture partner. “CESC which has shown interest and may also respond to the proposed EoI,” said DVC chairman AK Burman.
debjoy.sengupta@timesgroup.com
CESC’s wholly-owned subsidiary, CESCON, has entered into retail power distribution through a JV with Greater Noida Industrial Development Authority in Greater Noida.
“At its board meeting last week, JSEB decided to give away its distribution licence in DVC-command areas - Dhanbad, Bokaro, Hazaribagh and Giridih. The decision stems from the fact that JSEB has been facing operational and financial difficulties in these zones, following which, the Jharkhand government requested us (read: DVC) to undertake distribution there,” a senior DVC official told ET.
Following, JSEB’s decision to relinquish its distribution licence in these areas, DVC will float an expression of interest (EoI) to select its joint venture partner. “CESC which has shown interest and may also respond to the proposed EoI,” said DVC chairman AK Burman.
“Since the DVC Act does not allow the corporation to enter into retail power distribution, we have decided to float a joint venture that will undertake retail distribution. Now that, JSEB has decided to quit distribution within the DVC command area, we will take it over. The proposed JV is likely to use the exiting distribution infrastructure set up by JSEB. The modalities, however, need to be worked out,” the official said.
Interestingly, RPG flagship CESC is in talks with DVC to take up power distribution in Jharkhand through a JV company. “Our competency lies in retail distribution and that’s what we do in Kolkata and Greater Noida. CESC is interested in teaming up with DVC for a distribution venture in Jharkhand, but DVC will have to take the final call in selecting their partner,” CESC’s MD Sumantra Banerjee told ET.
Following, JSEB’s decision to relinquish its distribution licence in these areas, DVC will float an expression of interest (EoI) to select its joint venture partner. “CESC which has shown interest and may also respond to the proposed EoI,” said DVC chairman AK Burman.
debjoy.sengupta@timesgroup.com
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CESC’s wholly-owned subsidiary, CESCON, has entered into retail power distribution through a JV with Greater Noida Industrial Development Authority in Greater Noida.
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“At its board meeting last week, JSEB decided to give away its distribution licence in DVC-command areas - Dhanbad, Bokaro, Hazaribagh and Giridih. The decision stems from the fact that JSEB has been facing operational and financial difficulties in these zones, following which, the Jharkhand government requested us (read: DVC) to undertake distribution there,” a senior DVC official told ET.
Following, JSEB’s decision to relinquish its distribution licence in these areas, DVC will float an expression of interest (EoI) to select its joint venture partner. “CESC which has shown interest and may also respond to the proposed EoI,” said DVC chairman AK Burman.
“Since the DVC Act does not allow the corporation to enter into retail power distribution, we have decided to float a joint venture that will undertake retail distribution. Now that, JSEB has decided to quit distribution within the DVC command area, we will take it over. The proposed JV is likely to use the exiting distribution infrastructure set up by JSEB. The modalities, however, need to be worked out,” the official said.
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“The issue has already been discussed at a recent DVC board meeting, but details like JV ownership structure of the proposed company is yet to be decided,” he added.Start a SIP with as low as ₹500 with ET Money App!
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