Tata Power on Friday said that it will now distribute electricity in Ajmer for next 20 years for which the company has signed an agreement with Ajmer Vidyut Vitran Nigam Ltd(AVVNL).
Tata Power signed the Distribution Franchise Agreement(DFA) with AVVNL to cater to power requirements of customers in Ajmer for a period of 20 years, Tata Power said in a regulatory filing.
Subsequent to winning the bid for distribution franchise of Ajmer circle, Tata Power has formed a special purpose company (SPC), TP Ajmer Distribution Ltd.
Tata Power CEO and MD Anil Sardana said: "We welcome all our customers in Ajmer to a world class reliable power experience that is backed by best-in-class customer service."
The SPC will be operating and maintaining the distribution network in the Ajmer city, which includes city division 1 and 2 areas, and would also be responsible for managing the billing and collections, it said.
Shares of Tata Power were trading at Rs 84.50, up 0.42per cent on BSE.