Torrent Power, ReNew Power, Adani Group, NTPC Ltd, Tata Power, and Sterlite Power have bid to acquire the Chandigarh discom. While both the processes saw legal challenges, the plan is back on-course.
New Delhi: India’s plan to privatize electricity distribution companies (discoms) in the Union territories (UTs) has shown progress and the Union cabinet approval will be sought for the award of the Dadar and Nagar Haveli utility, Union power secretary Alok Kumar said.
Also, the financial bids for the Chandigarh discom will be opened next week, with the technical evaluation nearing completion.
Torrent Power, ReNew Power, Adani Group, NTPC Ltd, Tata Power, and Sterlite Power have bid to acquire the Chandigarh discom. Both the processes saw legal challenges, but the plan is back on course.
Mint had reported earlier about India working to privatize the discoms for eight UTs, the plan for which was articulated by Union finance minister Nirmala Sitharaman when she announced the fourth tranche of the ₹20 trillion stimulus package to tackle the economic fallout of the pandemic.
Some UTs saw legal challenges, but the plan is back in play now, Union power and new and renewable energy minister R.K. Singh told reporters after a review meeting of state governments and head of discoms. Unlike discoms run by state governments, discoms for UTs are administered by the Centre.
Deloitte is running the sale process for the discoms in Chandigarh, Puducherry, and Andaman and Nicobar Islands, while SBI Capital has the mandate for Dadar and Nagar Haveli, Daman and Diu, Jammu & Kashmir, and Ladakh.