GRIDCO definition

GRIDCO means GRIDCO Limited which is the “State Designated Entity” to sign Power Purchase Agreements (PPAs) with the developer(s) for procurement of power from different sources to meet the state demand, involved in business of bulk purchase and bulk sale of power to the four Distribution Companies inside the state and trading of surplus power through traders;

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GRIDCO means GRIDCO Limited;

GRIDCO shall have the meaning attributed thereto in the array of Parties as set forth in the Recitals;

Examples of GRIDCO in a sentence

• GRIDCO may, if necessary, meet a representative of the Supplier for resolving the dispute and in the event that the dispute is not resolved amicably, the Dispute Resolution Procedure shall apply.

• Upon receipt of any directions hereunder from GRIDCO, the Supplier shall comply forthwith and issue despatch and scheduling instruction to the RLDC and SLDC in conformity with the directions of GRIDCO.

• Provided, however, that the grant of any consent or approval under Applicable Laws shall not oblige GRIDCO to grant its approval to such assignment, save and except as provided herein.

• The Supplier shall not undertake or permit any Change in Ownership without giving prior information to GRIDCO.

• GRIDCO has resolved to procure electricity from a power generating station that would deliver a Contracted Capacity of MW at the Delivery Point corresponding to ***MW of gross generation2 on finance, own and operate (the “FOO”) basis, in accordance with the terms and conditions to be set forth in an agreement for procurement of power to be entered into under and in accordance with the provisions of the Electricity Act, 2003.

• Provided that in the event of delay by GRIDCO in procuring fulfilment of the Conditions Precedent specified in Clause 4.1.2, no Damages shall be due or payable by the Supplier under this Clause 4.3 until the date on which GRIDCO shall have procured fulfilment of the Conditions Precedent specified in Clause 4.1.2.

• GRIDCO shall have the right to inspect the records of the Supplier during office hours and require copies of relevant extracts of books of accounts, duly certified by the Statutory Auditors, to be provided to GRIDCO for verification of basis of payments, and in the event of any discrepancy or error being found, the same shall be rectified and such rectified account shall form the basis of payments by either Party under this Agreement.

• Notwithstanding the provisions of Clauses 24.1 and 34.2, but subject to Applicable Laws, GRIDCO shall be entitled to direct the Supplier, from time to time, to withhold the disclosure of Protected Documents (as defined herein below) to any person in pursuance of the aforesaid Clauses.

• Provided further that in the event the delay in occurrence of the Appointed Date is for reasons attributable to GRIDCO, the Performance Security given by GRIDCO shall be encashed and appropriated by the Supplier as Damages thereof.

• GRIDCO shall pay to the Supplier, as part of Tariff, a Variable Charge to be determined in accordance with the provisions of Article 12.

More Definitions of GRIDCO

GRIDCO means Grid Corporation of Orissa Limited as referred to in Section 13;

GRIDCO means the State designated entity responsible for power purchase & bulk supply of electricity to distribution licensee and acts as demand aggregator & State Nodal agency responsible for implementation of Odisha Renewable Energy Policy- 2022.

GRIDCO means Grid Corporation of Odisha Limited

GRIDCO means the Grid Corporation of Orissa Limited, a company incorporated under the Companies Act, 1956 of the Borrower and constituted pursuant to the provisions of the Act with the main objectives of engaging in the business of procurement, transmission, and bulk supply of electric energy;

GRIDCO means the entity, which may be directly or indirectly owned by Owner or an Affiliate of Owner, that acquires or obtains ownership of the T&D System after the reorganization of PREPA. “GridCo-GenCo PPOA” means the power purchase and operating agreement between GridCo and GenCo providing for expense reimbursement, power delivery and other services related to the generation, sale and purchase of Power and Electricity from the Legacy Generation Assets and the operation and maintenance thereof, which will have terms and conditions substantially consistent with those set forth in Exhibit H (Term Sheet for GridCo- GenCo PPOA).

GRIDCO means GRIDCO Limited