Common use of Payment in case of reduced Clause in Contracts

Payment in case of reduced. off take: In case the plant is available to supply power but the off take of power is not done by the Buying Entity, including non-dispatch of power due to non-compliance with “Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified by the Ministry of Power vide Gazette notification dated 3rd June 2022” and any clarifications or amendment thereto, considering the principle of “must run” status for RE Power, the SPD shall be eligible for payment from the Buying Entity, corresponding to the reduced off take, in terms of following manner: Reduced Off-take Provision for Generation Compensation Reduced off-take beyond 175 hours in a Contract Year, as defined in SECI-SPD PPA Generation Compensation= (Applicable Tariff X Solar PV Power (MW) offered but not scheduled by the Buying Entity) X 1000 X no. of hours of Reduced Off take. However, in the case of third-party sale or sale in the power exchange, as price taker, the 95% of the amount realized, after deducting expenses, shall be adjusted against the Generation compensation payable, on monthly basis.