At least nine firms are interested in taking over the electricity distribution functions of Puducherry.
The firms include Italy’s Enel Group, the Adani Group, Torrent Power, Greenko, ReNew Power Ventures, Sterlite Power, and state-run NTPC.
The other firms eyeing the electricity distribution privatisation plan of Puducherry are RP-Sanjiv Goenka Group’s CESC and Tata Power Company. The request for proposal (RfP) is likely to be floated in August 2021.
Deloitte is running the sale process for Puducherry electricity department with the electricity distribution company (discom) to be carved out before the handover. Unlike discoms run by state governments, discoms for the Union Territories are administered by the Centre.
The decks for the same have been cleared. A meeting of the empowered committee is expected to be called shortly. The committee will also have a Central government representative and will decide upon floating the RfP for divesting 100 percent stake.
India is working to privatise discoms for eight Union Territories, the plans for which were articulated by Union Finance Minister Nirmala Sitharaman when she announced the fourth tranche of Rs 20 trillion stimulus package to tackle the economic crisis that followed the COVID-19 outbreak.