High-Stakes Power Play! Adani & Tata Lead Race for UP’s Electricity Giants!

Image Source: The Economic Times

India’s largest power distribution privatization is underway, with eight major players, including Adani Group, Tata Power, and Torrent Power, vying for a 51% stake in two Uttar Pradesh electricity distribution companies. The sale, managed by Grant Thornton Bharat LLP, is expected to reshape the state’s power sector and attract significant private investment.

Key Highlights:

- Eight bidders eye Purvanchal Vidyut Vitran Nigam Ltd (PUVVNL) and Dakshinanchal Vidyut Vitran Nigam Ltd (DVVNL).
- UP government to retain 49% stake, ensuring public-private partnership.
- ₹50,000 crore annual revenue—making it India’s largest discom privatization.
- Request for Proposal (RFP) expected by July, with deal closure by Diwali 2025.
- Other bidders include Greenko Group, Sterlite Power’s Serentica Renewables, ReNew Energy Global, RP-Sanjiv Goenka Group’s CESC Ltd, and a GMR-EDF consortium.

The privatization move aims to boost efficiency, reduce losses, and modernize infrastructure, ensuring better service for millions of consumers. While the UP Power Corporation Ltd (UPPCL) will retain debt repayment responsibilities, private players will drive operational improvements.

With high-profile bidders and massive stakes, this historic transaction could reshape India’s power distribution landscape.

Sources: Mint Mumbai, CNBC TV18