For each kilowatt-hour by which Expected Energy Production is less than the Guaranteed Expected Energy Production, the Purchase Price will be reduced by an amount equal to the Unit Price times the equivalent capacity (expressed in kWdc) necessary to make up the shortfall in production.
Guaranteed Energy Production or “GEP” has the meaning set forth in Section 3.1(e)(ii).
Guaranteed energy savings contract means a contract that includes all of the following:
Renewable energy project means (A) a project
Energy project means the installation or modification of an energy efficiency improvement or the acquisition, installation, or improvement of a renewable energy system.
energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;