AES has threatened to pull out of power distribution in Orissa and has also filed an arbitration petition to recover its dues from the state-owned transmission company Gridco.
Addressing mediapersons here today, president and CEO of AES Corp, Dennis Bakke, said that the company faced serious problems in both its generation and distribution business in Orissa.
On the possible solutions, Bakke said that in the short term, AES would sell its 51 per cent stake in Cesco, the distribution company, to Gridco/government or any other third party.
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He added that AES would be willing to continue to manage the day-to-day operation of the company under a management contract for a reasonable transition period.