Common use of Provision for Generation Compensation Clause in Contracts

Provision for Generation Compensation. Grid unavailability in a Contract Year as beyond 50 hours in a Contract Year, as defined in SECI- HPD PPA Generation Compensation= ((Tariff X RE Power (MW) offered but not scheduled by the Buying Entity)) X 1000 X No. of hours of grid unavailability. 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. Compensation (if any) calculated as per above provision, will be paid by Buying Entity to the HPD on an annual basis.

Provision for Generation Compensation. Grid unavailability in a Contract Year as beyond 50 hours in a Contract Year, Year as defined in SECI- HPD PPA Article 1 Generation Compensation= ((Tariff X RE Power (MW) offered but not scheduled by the Buying Entity)) X 1000 X No. of hours of grid unavailability. 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. Compensation (if any) calculated as per above provision, will be paid by Buying Entity to the HPD on an annual basis.