RESCO Mode definition
RESCO Mode means the methodology in which entire investment is to be incurred by a company/individual other than the consumer for setting up of the solar power project in the consumer premises and the consumer pays for the electricity generated from such solar power project at mutually agreed tariff to such investor company/individual;
RESCO Mode means where the Solar Power Developer intend to use a Premise owned/used by the Procurer and enters into the PPA with Procurer for supply of Solar Power for 25 Operational Years at a tariff determined through mutual arrangement or competitivebidding process; “RFP” shall mean Request For Proposal No. datedxx.xx.2021, with all its terms and conditions along with all schedules, Annexure and RFP Project Documents attached thereto, issued by Nodal Agency and shall include anymodifications, amendments or alterations thereto. “Rupees” or “Rs” shall mean Indian rupees, the lawful currency of India; “Solar Power Developer” or “SPD” shall mean the Bidder selected pursuant to the RFP to set up the Project and supply power therefrom to Procurer as per the termsof PPA or/ and RFP; “Scheduled CommercialOperation Date” or “SCOD” shall mean nine (9) months from Effective Date under the PPA; “Supplementary Bill” or“Supplementary Invoice” means a bill other than a Monthly Bill or Monthly Invoice raisedby any of the Parties in accordance with Article1.40; “Tariff” shall have the same meaning as provided for in 0 of this PPA; “Tariff Payment” shall mean the payments to be made under Monthly Bills as referred to in Article1.34.1 and the relevant Supplementary Billsin accordance with the Article1.43; “Termination Notice” shall mean the notice given by either Parties for termination ofthis PPA in accordance with 0 of this PPA; “Term of PPA” shall have the meaning ascribed thereto in 0 of this PPA; “Total Debt Amount” means the sum of the following amounts, expressed in Rupees (with all amounts denominated in currencies other than Rupees being converted to Rupees at the reference Exchange Rate, the selling rate in Rupees for the Foreign Currency on the relevant Day, as notified by the State Bank of India as its TT Rate at 12:00 noon on the date of issuance of Substitution Notice by the Lenders(a) the principal amount of the senior debt incurred by the Solar Power Developer (as per the terms of the Financing agreements) to finance the Project according to the Capital Structure Schedule which remains outstanding on the date of issuance of Substitution Notice by the Lender after taking account of any senior debt repayments which could have been made out of the Monthly Tariff Payments received by the Solar Power Developer on or before the date of issuance of Substitution Notice by the Lender as per the terms provided in the Financing agreements ; and(b) all accrued interest and finan...
RESCO Mode means where the Bidders intend to use a Premise owned/used by the Procurer and enters into the PPA with Procurer for supply of solar power as per RFP;.
Examples of RESCO Mode in a sentence
Solar Energy Corporation of India Limited (hereinafter referred to as “SECI”) had initiated a Tariff Based Competitive Bid Process for Selection of Solar Power Developers for Setting up 4.125 MW Grid-Connected Solar PV Projects in IIT Kharagpur Campus under RESCO Mode through Tariff-based Competitive Bidding on the terms and conditions contained in the Request for Selection (hereinafter referred to as “RfS”) issued by SECI vide RfS No. …..
Solar Energy Corporation of India Limited (hereinafter referred to as “SECI”) had initiated a Tariff Based Competitive Bid Process for Selection of Solar Power Developers for setting up of 1360 kW Grid-Connected Rooftop Solar PV Projects under RESCO Mode on the terms and conditions contained in the Request for Selection (hereinafter referred to as “RfS”) issued by SECI vide RfS No. dated …...
More Definitions of RESCO Mode
RESCO Mode means where the Solar Power Developer intend to use a Premise owned/used by the Procurer and enters into the PPA with Procurer for supply of Solar Power for 25 Contract Years at a tariff determined through mutual arrangement or competitive bidding process; Page 12
RESCO Mode means where the bidders intend to take a rooftop owned by some other entity on mutually agreed terms and conditions including lease agreement from the roof top owner(s) and enters into the PPA with rooftop owner