Performance Guarantee Deposit. (PGD) @Rs 10 lakh/MW shall be raised in two years by deducting from payments to SPDs in 24 equal instalments. It will stay with NTPC for 25 years. PGD shall be refunded to SPDs without interest within three (3) months after expiry of 25 year term of PPA subject to satisfactory performance of the project. In case the SPD winds up his project or terminates PPA prior to completion of 25 year term of PPA the PGD shall be forfeited.
Appears in 4 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
