Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project and will be allowed to revise the same once within first year after COD of the project. Thereafter, the CUF for the Project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. The annual CUF will be calculated every Contract Year. The compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 50% (fifty per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying Entity.
Appears in 3 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project Project and will be allowed to revise the same once within first year after COD of the projectfull project capacity. ThereafterSECI, the CUF in any Contract Year except for the Project first year of operation, shall remain unchanged for not be obliged to purchase any additional energy from the entire term SPD beyond Million kWh (MU). Subsequent to commissioning of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be Project, if for any Contract Year, it is found that the responsibility SPD has not been able to supply minimum energy of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value Million kWh (MU) till the end of 10 years from CODthe SCD and ………….. Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum SPD, the noncompliance by SPD shall make the SPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till the end of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDSPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the SPD shall be 25% (fifty per centtwenty-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of solar power by the SPD to the Buying EntitySPD.
Appears in 3 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project and will be allowed to revise the same CUF of the Project once within first year after COD of the projectfull project capacity. ThereafterSECI, the CUF in any Contract Year except for the Project Contract Year ending on 31st March immediately after COD of the Project, shall remain unchanged not be obliged to purchase any additional energy from the SPD beyond Million kWh (MU). Subsequent to commissioning of the Project, if for any Contract Year, except for the entire term Contract Year ending on 31st March immediately after COD of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be Project, it is found that the responsibility SPD has not been able to supply minimum energy of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value ………..Million kWh (MU) till the end of 10 years from CODthe SCD and ………….. Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum of 15%SPD, and within +10% and -20% of the declared value of noncompliance by SPD shall make the annual CUF thereafter till SPD liable to pay the end of compensation provided in the PPA duration of 25 yearsrespective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of non-grid non- availability of grid for evacuation which is beyond the control of the SPDSPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of Such compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the SPD shall be 25% (fifty per centtwenty-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of power Solar Power by the SPD to the Buying EntitySPD.
Appears in 2 contracts
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project Project and will be allowed to revise the same once within first year after COD of the projectfull project capacity. ThereafterSECI, the CUF in any Contract Year except for the Project first year of operation, shall remain unchanged for not be obliged to purchase any additional energy from the entire term SPD beyond Million kWh (MU). Subsequent to commissioning of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be Project, if for any Contract Year, it is found that the responsibility SPD has not been able to generate minimum energy of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value Million kWh (MU) till the end of 10 years from CODthe SCD and Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum SPD, the noncompliance by SPD shall make the SPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till the end of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDSPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the SPD shall be 25% (fifty per centtwenty-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of solar power by the SPD to the Buying EntitySPD.
Appears in 2 contracts
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare SECI, in any Contract Year except for the CUF of the project and will be allowed to revise the same once within first year after COD of the project. Thereafteroperation, the CUF for the Project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve be obliged to purchase any additional energy from the SPD from his obligations under beyond ……….. Million kWh (MU). If for any Contract Year, it is found that the PPA. SPD shall maintain generation so as has not been able to achieve annual CUF within + 10% and -15% generate minimum energy of the declared value Million kWh (MU) till the end of 10 years from CODthe SCD and Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum SPD, the non- compliance by SPD shall make the SPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till the end of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDSPD (as certified by the SLDC/ RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the SPD shall be 25% (fifty per centtwenty-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of solar power by the SPD to the Buying EntitySPD.
Appears in 2 contracts
Right to Contracted Capacity & Energy. 4.4.1 Procurer, at any time during a Contract Year, shall not be obliged to purchase any additional energy from the SPD beyond the contracted capacity. SPD has declared annual CUF % for the Project at the time of submission of response to RfS. The SPD will declare the CUF of the project and will be SPDs is allowed to revise the same annual CUF---------% once within first year after COD of the projectCOD. Thereafter, the CUF for the Project project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels solar panel and associated infrastructure(like project equipment)as equipment (including arrangement of extra land for such installation) as may be necessary to achieve the required CUF, CUF and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10+10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, % and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. years The annual CUF will be calculated every Contract Yearyear form 1st April of the year to 31st march next year. The compensation due If for any contract year it is found that the SPD has not been able to generate minimum energy corresponding to the value of annual CUF within the permissible lower limit of CUF declared by the SPD, on account of reasons primarily attributable to the SPD, such shortfall in generation performance shall be applied make the SPD liable to pay the amount of shortfall in generation during the Contract Year. The amount of compensation shall be to procurer equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying EntityTariff.”
Appears in 2 contracts
Samples: Power Purchase Agreement, www.eqmagpro.com
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare SECI, in any Contract Year except for the CUF of the project and will be allowed to revise the same once within first year after COD of operation, shall not be obliged to purchase any additional energy from the projectSPD beyond ……….. Million kWh (MU). Thereafter, the CUF If for any Contract Year except for the Project shall remain unchanged for first year of operation, it is found that the entire term SPD has not been able to generate minimum energy of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value …...Million kWh (MU) till the end of 10 years from CODthe SCD and ………….. Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum SPD, the non-compliance by SPD shall make the SPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till the end of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDSPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the SPD shall be 25% (fifty per centtwenty- five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of solar power by the SPD to the Buying EntitySPD.
Appears in 2 contracts
Right to Contracted Capacity & Energy. 4.4.1 4.6.1 Xxxxxxxx, at any time during a Contract Year, shall not be obliged to purchase any additional energy from the SPP beyond the contracted capacity. SPP has declared annual CUF % for the Project at the time of submission of response to RfP. The SPD will declare the CUF of the project and will be SPDs is allowed to revise the same annual CUF---------% once within first year after COD of the projectCOD. Thereafter, the CUF for the Project project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 1715%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels solar panel and associated infrastructure(like project equipment)as equipment (including arrangement of extra land for such installation) as may be necessary to achieve the required CUF, CUF and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10+10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, % and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. years The annual CUF will be calculated every Contract Yearyear form 1st April of the year to 31st march next year. The compensation due If for any contract year it is found that the SPD has not been able to generate minimum energy corresponding to the value of annual CUF within the permissible lower limit of CUF declared by the SPD, on account of reasons primarily attributable to the SPD, such shortfall in generation performance shall be applied make the SPD liable to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to pay the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying Entity.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD WPD will declare the CUF of the project Project and will be allowed to revise the same once within first year three years after COD of the projectfull project capacity. ThereafterSECI, the CUF in any Contract Year except for the Project first year of operation, shall remain unchanged for not be obliged to purchase any additional energy from the entire term WPD beyond ……….. Million kWh (MU). Subsequent to commissioning of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be Project, if for any Contract Year, it is found that the responsibility WPD has not been able to supply minimum energy of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value …...Million kWh (MU) till the end of 10 years from CODthe SCD and Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum WPD, the noncompliance by WPD shall make the WPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till the end of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDWPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of SECI by the WPD shall be 50% (fifty per centpercent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of power Wind Power by the SPD to the Buying EntityWPD.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD HPD will declare the CUF of the project Project and will be allowed to revise the same once within first year after COD of the projectfull project capacity. ThereafterSECI, the CUF in any Contract Year except for the Project first year of operation, shall remain unchanged for not be obliged to purchase any additional energy from the entire term HPD beyond Million kWh (MU). Subsequent to commissioning of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be Project, if for any Contract Year, it is found that the responsibility HPD has not been able to generate minimum energy of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value Million kWh (MU) till the end of 10 years from CODthe SCD and Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum HPD, the noncompliance by HPD shall make the HPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till the end of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDHPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the HPD shall be 25% (fifty per centtwenty-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariffOff-Peak Tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of power by the SPD to the Buying EntityHPD.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD WPD will declare the CUF of the project Project and will be allowed to revise the same once within first year after COD of the projectCOD. ThereafterBuyer, the CUF in any Contract Year except for the Project shall remain unchanged for the entire term first year of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPDoperation, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD be obliged to purchase any additional energy from his obligations under the PPA. SPD shall maintain generation so as WPD beyond ……….. Million kWh (MU) [Insert value of energy generated corresponding to achieve annual CUF within + 10% and -15of 120% of the declared value CUF of % for Wind Project. In case of full commissioning of the Project, for the first year of operation, the above limits shall be considered on pro-rata basis. In case of part commissioning of the Project, the above limits shall be considered on pro-rata basis till the end commissioning of 10 years from CODfull capacity of the Project. If for any Contract Year, subject except for the first year of operation, it is found that the WPD has not been able to the annual generate minimum energy of Million kWh (MU) [Insert value of energy generated corresponding to a CUF remaining minimum of 15%, and within +10% and -2090% of the declared value CUF for Wind project] on account of reasons solely attributable to the annual CUF thereafter till WPD, the end of non-compliance by WPD shall make the PPA duration of 25 yearsWPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of non-grid non availability of grid for evacuation which is beyond the control of the SPDdeveloper (subject to certification from SLDC/RLDC). The For the first year of operation of the project, the annual CUF will shall be calculated for the complete year after COD of the Project. Subsequently, the annual CUF shall be calculated every Contract Yearyear from 1st April of the year to 31st March next year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of such compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying EntityAppropriate Commission/Authority, which and such compensation shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the WPD shall be 75% (fifty per centseventy-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying Entity.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 4.6.1 Procurer, at any time during a Contract Year, shall not be obliged to purchase any additional energy from the SPP beyond the contracted capacity. SPP has declared annual CUF % for the Project at the time of submission of response to RfP. The SPD will declare the CUF of the project and will be SPDs is allowed to revise the same annual CUF---------% once within first year after COD of the projectCOD. Thereafter, the CUF for the Project project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 1715%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels solar panel and associated infrastructure(like project equipment)as equipment (including arrangement of extra land for such installation) as may be necessary to achieve the required CUF, CUF and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10+10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, % and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. years The annual CUF will be calculated every Contract Yearyear form 1st April of the year to 31st march next year. The compensation due If for any contract year it is found that the SPD has not been able to generate minimum energy corresponding to the value of annual CUF within the permissible lower limit of CUF declared by the SPD, on account of reasons primarily attributable to the SPD, such shortfall in generation performance shall be applied make the SPD liable to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to pay the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying Entity.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project and will be allowed to revise the same once within first year after COD of the project. Thereafter, the CUF for the Project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 1721%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like infrastructure (like project equipment)as equipment) as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land Land for such installation shall be intimated to MSPDCL JDA in advance and MSPDCL JDA shall have to reply for the same in 7 days in the best interest of the project generation. However,, non- availability of land Land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 1518%, and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL JDA to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. The annual CUF will be calculated every Contract Year. The compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty twenty-five per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-pre- estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-pre- estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCLJDA, affecting supply of power by the SPD to the Buying Entity.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD HPD will declare the CUF of the project Project and will be allowed to revise the same once within first year three years after COD of the projectfull project capacity. ThereafterSubsequent to commissioning/part-commissioning of the Project, the CUF SECI, in any Contract Year except for the Project shall remain unchanged for the entire term first year of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPDoperation, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD be obliged to purchase any additional energy from his obligations under the PPA. SPD shall maintain generation so as HPD beyond Million kWh (MU) [Insert value of energy generated corresponding to achieve annual CUF within + 10% and -15120% of the declared CUF for the Project]. If for any Contract Year except for first year of operation, it is found that the HPD has not been able to generate minimum energy of …...Million kWh (MU) of the energy generated from the Project [Insert value till the end of 10 years from COD, subject energy generated corresponding to the annual CUF remaining minimum of 15%, and within +10% and -2080% of the declared value CUF for the Project], on account of reasons solely attributable to the HPD, the non-compliance by HPD shall make the HPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). In case of full commissioning of the annual CUF thereafter Project, for the first year of operation, the above limits shall be considered on pro-rata basis. In case of part commissioning of the Project, the above limits shall be considered on pro-rata basis till the end commissioning of full Contracted Capacity of the PPA duration of 25 yearsProject. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of non-grid non- availability of grid for evacuation which is beyond the control of the SPDHPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of such compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of will be calculated @ 50% (fifty per centpercent) of the cost of this PPA tariff for the shortfall in energy terms, calculated at PPA tariff. The amount, being equal to in accordance with the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation terms of the actual loss that will be suffered by buying EntityPPA. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of power by the SPD to the Buying EntityHPD.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project and will be allowed to revise the same once within first year after COD of the project. Thereafter, the CUF for the Project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as equipment (including arrangement of extra Reservoir/land for such installation) as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL Electricity department, A&NA to the extent of non-non- availability of grid for evacuation which is beyond the control of the SPD. The annual CUF will be calculated every Contract Yearyear from 1st April of the year to 31st March next year. The compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar powerRECs) by the buying EntityEntity towards non - meeting of RPOs, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty twenty-five per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, amount being equal to the compensation payable, payable by the buying Entity for not meeting load requirements RPO is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements RPO or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the loadRPO. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCLbuying Entity (Electricity department, A&NA), affecting supply of power by the SPD to the Buying EntitySPD.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project Project and will be allowed to revise the same once within first year after COD of the projectfull project capacity. ThereafterSECI, the CUF in any Contract Year except for the Project shall remain unchanged for first year of operation, i.e., from the entire term SCD to 31st March of the PPAsucceeding year, shall not be obliged to purchase any additional energy from the SPD beyond ……….. Million kWh (MU). The declared annual CUF shall in no case be less than 17%. It shall be the responsibility Subsequent to commissioning of the SPDProject, entirely at its cost and expense if for any Contract Year, it is found that the SPD has not been able to install such number supply minimum energy of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value Million kWh (MU) till the end of 10 years from CODthe SCD and Million kWh (MU) for the rest of the Term of the Agreement, subject on account of reasons solely attributable to the annual CUF remaining minimum SPD, the noncompliance by SPD shall make the SPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). For the first year of 15%operation, and within +10% and -20% the above limits shall be considered on pro-rata basis. In case of part commissioning of the declared value Project, the above limits shall be considered on pro-rata basis till the commissioning of full capacity of the annual CUF thereafter till Project, or the end of the PPA duration of 25 yearsfinally accepted Project capacity. The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of grid non-availability of grid for evacuation which is beyond the control of the SPDSPD (as certified by the SLDC/RLDC). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation such penalty shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying Entityrespective State Electricity Regulatory Commission of the corresponding Buying Entity/ any such Authority, which and such penalty shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the SPD shall be 25% (fifty per centtwenty-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this This compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of solar power by the SPD to the Buying EntitySPD.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD WPD will declare the CUF of the project Project and will be allowed to revise the same once within first year after COD of the projectCOD. ThereafterBuyer, the CUF in any Contract Year except for the Project shall remain unchanged for the entire term first year of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPDoperation, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD be obliged to purchase any additional energy from his obligations under the PPA. SPD shall maintain generation so as WPD beyond ……….. Million kWh (MU) [Insert value of energy generated corresponding to achieve annual CUF within + 10% and -15of 120% of the declared value CUF of % for Wind Project. In case of full commissioning of the Project, for the first year of operation, the above limits shall be considered on pro-rata basis. In case of part commissioning of the Project, the above limits shall be considered on pro-rata basis till the end commissioning of 10 years from CODfull capacity of the Project. If for any Contract Year, subject except for the first year of operation, it is found that the WPD has not been able to the annual generate minimum energy of Million kWh (MU) [Insert value of energy generated corresponding to a CUF remaining minimum of 15%, and within +10% and -2080% of the declared value CUF for Wind project] on account of reasons solely attributable to the annual CUF thereafter till WPD, the end of non-compliance by WPD shall make the PPA duration of 25 yearsWPD liable to pay the compensation provided in the respective PSA as payable to Buying Entity(ies) by Buyer to enable Buyer to remit the amount to Buying Entity(ies). The lower limit will, however, however be relaxable by MSPDCL Buyer to the extent of non-grid non availability of grid for evacuation which is beyond the control of the SPDdeveloper (subject to certification from SLDC/RLDC). The For the first year of operation of the project, the annual CUF will shall be calculated for the complete year after COD of the Project. Subsequently, the annual CUF shall be calculated every Contract Yearyear from 1st April of the year to 31st March next year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of such compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) as determined by the buying EntityAppropriate Commission/Authority, which and such compensation shall ensure that the buying Entity is Buying Entity(ies) is/are offset for all potential costs associated with low generation and supply of power under the PPA. However, subject the minimum compensation payable to a minimum of 50SECI by the WPD shall be 75% (fifty per centseventy-five percent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying Entity.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 Procurer, at any time during a Contract Year, shall not be obliged to purchase any additional energy from the SPD beyond the contracted capacity. SPD has declared annual CUF % for the Project at the time of submission of response to RfP. The SPD will declare the CUF of the project and will be SPDs is allowed to revise the same annual CUF---------% once within first year after COD of the projectCOD. Thereafter, the CUF for the Project project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels solar panel and associated infrastructure(like project equipment)as equipment (including arrangement of extra land for such installation) as may be necessary to achieve the required CUF, CUF and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10+10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, % and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. years The annual CUF will be calculated every Contract Yearyear form 1st April of the year to 31st march next year. The compensation due If for any contract year it is found that the SPD has not been able to generate minimum energy corresponding to the value of annual CUF within the permissible lower limit of CUF declared by the SPD, on account of reasons primarily attributable to the SPD, such shortfall in generation performance shall be applied make the SPD liable to pay the amount of shortfall in generation during the Contract Year. The amount of compensation shall be to procurer equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar power) by the buying Entity, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, affecting supply of power by the SPD to the Buying EntityTariff.”
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SECI, at any time during a Contract Year, shall not be obliged to purchase any additional energy from the SPD will declare the beyond …………Million kWh (MU) [Insert value of energy corresponding to CUF of the project and will be allowed to revise the same once within first year after COD of the project. Thereafter, the CUF for the Project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 17%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like project equipment)as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra land for such installation shall be intimated to MSPDCL in advance and MSPDCL shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 1018.7% and -15or 110% of the declared annual CUF (whichever is higher). If for any Contract Year, it is found that the SPD has not been able to generate minimum energy of ………Million kWh (MU)[Insert value till of energy corresponding to CUF of 15% or 85% of the declared annual CUF (whichever is higher)]till the end of 10 years from COD, subject the COD and Million kWh (MU) [Insert value of energy corresponding to the annual CUF remaining minimum of 15%, and within +10% and -2080% of the declared value annual CUF] for the rest of the annual CUF thereafter till the end term of the PPA duration Agreement, on account of 25 years. The lower limit will, however, be relaxable by MSPDCL reasons solely attributable to the extent SPD, the non-compliance by SPD shall make SPD liable to pay the compensation provided in the PSA as payable to Buying Utilities and shall duly pay such compensation to SECI to enable SECI to remit the amount to Buying Utilities. However, the amount of shortfall in generation shall be adjusted as per methodology adopted by SECI in consultation with MNRE, on account of non-availability of grid for power evacuation which is beyond the control of the SPDSPD and / or occurrence of abnormally low Global Horizontal Irradiance (GHI) year (i.e. if the actual global solar irradiance in the year under consideration is less than 50% of average values of two (2) years of annual GHI as available from the nearest IMD/SRRA stations). The annual CUF will be calculated every Contract Year. The This compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to the compensation payable (including equivalent amount of Electricity purchased from the grid for meeting load demand due to short fall in solar powerRECs) by the buying EntityBuying Utilities towards non-meeting of RPOs, which shall ensure that the buying Entity if such compensation is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 50% (fifty per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, ordered by the buying Entity for not meeting load requirements is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the load. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this AgreementState Commission. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCL, SECI affecting supply of solar power by SPD. For avoidance of any doubt, it is clarified that the extent of adjustment in CUF in case of non-availability of grid for evacuation which is beyond the control of SPD and / or abnormally low annual Global Horizontal Irradiance year and /or force majeure shall not qualify for revenue billing. Moreover, in case annual GHI is equal to or more than 50% of average value of two (2) years of annual GHI as available from the Buying Entitynearest IMD/SRRA stations, no adjustment shall be made in the annual CUF on account abnormally low annual GHI year.
Appears in 1 contract
Samples: Power Purchase Agreement
Right to Contracted Capacity & Energy. 4.4.1 The SPD will declare the CUF of the project and will be allowed to revise the same once within first year after COD of the project. Thereafter, the CUF for the Project shall remain unchanged for the entire term of the PPA. The declared annual CUF shall in no case be less than 1721%. It shall be the responsibility of the SPD, entirely at its cost and expense to install such number of Solar panels and associated infrastructure(like infrastructure (like project equipment)as equipment, land, reservoir etc) as may be necessary to achieve the required CUF, and for this purpose SPD shall make its own study and investigation of the GHI and other factors prevalent in the area which have implication on the quantum of generation. Further, arrangement of extra Reservoir/land for such installation shall be intimated to MSPDCL BBMB in advance and MSPDCL BBMB shall have to reply for the same in 7 days in the best interest of the project generation. However,non- availability of reservoir/land shall not absolve SPD from his obligations under the PPA. SPD shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 1518%, and within +10% and -20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years. The lower limit will, however, be relaxable by MSPDCL BBMB to the extent of non-availability of grid for evacuation which is beyond the control of the SPD. The annual CUF will be calculated every Contract Year. The compensation due to shortfall in generation shall be applied to the amount of shortfall in generation during the Contract Year. The amount of compensation shall be equal to the compensation payable (including equivalent amount of Electricity RECs purchased from the grid for meeting load demand due to short fall in solar powerRPO compliance) by the buying EntityEntity towards non - meeting of RPOs, which shall ensure that the buying Entity is offset for all potential costs associated with low generation and supply of power under the PPA, subject to a minimum of 5025% (fifty twenty-five per cent) of the cost of this shortfall in energy terms, calculated at PPA tariff. The amount, being equal to the compensation payable, by the buying Entity for not meeting load requirements RPO is only a measure of damage. It shall not be construed that the compensation is payable by SPD only if the buying Entity are required to pay compensation for such not meeting of load requirements RPO or that the buying Entity or the SPD shall be required to prove or establish such payment of compensation for not meeting the loadRPO. SPD shall agree that the methodology specified herein above for calculation of liquidated damages payable by the SPD for shortfall in generation is a genuine and accurate pre-estimation of the actual loss that will be suffered by buying Entity. SPD shall further acknowledge that a breach of any of the obligations contained herein result in injuries and that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this document is a genuine and reasonable pre-estimate of the damages that may be suffered by buying Entity in each case specified under this Agreement. However, this compensation shall not be applicable in events of Force Majeure identified under the PPA with MSPDCLBBMB, affecting supply of power by the SPD to all Buying Entity (ies). For the purpose of RPO compliance the Partner or beneficiary States may also be termed as Buying EntityEntity (ies) under this PPA. Any levy/penalty imposed on the Partner/Beneficiary States due to non-meeting of RPO by these Partner or Beneficiary States due to short fall in allocated Solar Power to these States by BBMB from the Generation by SPD shall be compensated as per this clause of the PPA, if the same are applicable on them as per respective SERCs.
Appears in 1 contract
Samples: Power Purchase Agreement