Common use of Declared Annual Availability Clause in Contracts

Declared Annual Availability. The Feed-in Approval Holder shall provide the Distribution Licensee with details of the Declared Annual Availability upon the execution of this Agreement. If the total Metered Renewable Energy of the Renewable Energy Installation for every hour of each day of a Contract Year, after taking into account scheduled outages, maintenance outages and unplanned outages (but excluding interruptions due to a Force Majeure Event, emergency condition or other condition caused by the Distribution Licensee or its electricity distribution network), results in less than 70% of the Declared Annual Availability of such Contract Year (prorated in the case of the first and last Contract Years of the Term), the Feed-in Approval Holder shall pay the Distribution Licensee within 30 days after receipt of a written invoice by the Distribution Licensee, a sum in RM determined as follows: LD = DC x [ (0.7 x DAA) – MRE ] x 1000 Where: LD = the sum in RM payable by the Feed-in Approval Holder to the Distribution Licensee DC = the prevailing displaced cost (in RM/kWh) DAA = the Declared Annual Availability (in MWh) of such Contract Year; MRE = the aggregate Metered Renewable Energy (in MWh) generated by the Renewable Energy Installation for every hour of each day of that Contract Year