ENERGY DEPARTMENT

NOTIFICATION

The 28th March 2023

No. 3664—PT1-ENG-TDER-RR-0007/2020-En.—The modalities for transfer of Govt.

distribution assets to DISCOMs in lieu of equity offer of DISCOMs to GRIDCO as per Vesting

Orders of OERC has been notified vide this Department Notification No. 2699, dated the 30th

March 2022.

2. GRIDCO has identified the list of distribution assets to be transferred to the 4 DISCOMs

and fair valuation of such assets has also been carried out. Accordingly, the Board of Directors of

GRIDCO in their meeting held on the 27th March 2023 has recommended for transfer of the

identified distribution assets to DISCOMs in lieu of equity offered by respective DISCOMs to

GRIDCO. The list of such distribution assets meant to be transferred to TPCODL, TPSODL,

TPNODL & TPWODL towards the 49% matching equity contribution of GRIDCO are enclosed at

Annexure-A to Annexure-D respectively . The fair value of assets to be transferred is summarised

below:

TPCODL : Rs. 42,03,28,540/

TPSODL : Rs. 59,28,96,000/

TPNODL : Rs. 50,57,01,670/

TPWODL : Rs. 58,93,00,000/

3. Accordingly Govt. have been pleased to transfer the identified distribution assets as

mentioned above in favour of DISCOMs as equity contribution.

4. Further, GRIDCO will issue equity in favour of the State Govt. equivalent to the value of

shares allotted by the four DISCOMs to GRIDCO. This shall come into effect on the date of issue

of this notification.

The Odisha

G a z e t t e

EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 729 CUTTACK, MONDAY, APRIL 3, 2023/CHAITRA 13, 1945

By order of the Governor

LIPSA DAS

Additional Secretary to Govt.

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