Common use of Failure to Meet Guaranteed Amount of Renewable Energy Clause in Contracts

Failure to Meet Guaranteed Amount of Renewable Energy. If the Facility is a hybrid Facility, the Project Company guarantees that, for each Contract Year, the Net Energy Output derived from the Renewable Component shall be equal to or greater than the Guaranteed Amount of Rewable Energy. After the end of each Contract Year, GPA shall verify the amount of Net Energy Output derived from the Renewable Component for such year and if it is less than the Guranteed Amount of Renewable Energy applicable to such year, the Project Company shall be liable for Renewable Component Liquidated Damages which shall be payable as part of the next monthly invoice. Renewable Component Liquidated Damages shall be equal to the amount of the annual shortfall (in kWh) multiplied by the average Energy Charge (in $/kWh) for the applicable Contract Year.