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Reliance Energy bids for UP power distribution companies

Thursday, 02 Dec 2004
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Reliance Energy has reportedly expressed interest in taking up equity stake in the five state-owned power distribution companies of Uttar Pradesh. This decision was taken up at the Reliance Energy board meeting held on 1 December 2004.

The five distribution companies are based in Meerut, Agra, Lucknow, Varanasi and Kanpur. They cater to 8.5 million urban consumers and distribution a peak demand of 6,500 MW. The aggregate revenue of these companies is around Rs.7,500 crore.

It may be recalled that on 1 November 2004, the UP government had invited expressions of interest from private sector companies to take up majority stake in these five distribution companies. (See Related News)

Related News:

Uttar Pradesh government to privatize power distribution companies (1-Nov-04)

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