Assignment – 1 (Power Purchase Agreement )

Name – Aman Deep Chawla

SAP ID – (500077940)
Submitted to – Dr. Navdeep Bhatnagar
 POWER PURCHASE AGREEMENT(PPA)
A Power Purchase Agreement (PPA) makes sure about the instalment stream for a Build-Own Transfer (BOT) or concession
venture for a free force plant (IPP). It is between the buyer "off taker" (frequently a state-claimed power utility) and an exclusive
force maker.

1. ARTICLE 1: DEFINITIONS AND INTERPRETATION

The terms utilized in this Agreement, except if as characterized beneath or hostile to the unique situation, will have a
similar importance as appointed to them by the Electricity Act, 2003 and the standards or guidelines surrounded
there under, including those gave/encircled by Appropriate Commission (as characterized hereunder), as changed or
re-instituted now and again.
a) 'Demonstration' signifies The Electricity Act, 2003

b) "Yearly Turnover" signifies such turnover in Million Units of Electricity (MU)

c) "Mechanized review trail" signifies robotized creation and support of time-sequenced record of exchanges.

d) "Board" signifies governing body of a Power Exchange;

e) "Agreement" signifies an agreement for or identifying with the buy or offer of power or its related items;

f) "Clearing Corporation" signifies an association which attempt clearing and money related repayment of all
agreements executed on an Exchange

g) "Clearing" signifies the cycle of assurance of commitments of Members

h) "Customer" signifies an individual who executed a concurrence with a Member on power Exchange or Member of
Clearing Corporation

I) "Credit hazard" signifies hazard radiating in an agreement because of progress in budgetary

j) "Day ahead agreement" signifies contracts where exchange happens on day

k) And conveyance of intensity is on the following day (T+1)

l) "Subordinate Contract" signifies a power contract executed in the OTC Markets or Exchanges and that gets its
incentive from a fundamental resource in power

m) "Trade" signifies a Power Exchange and Other Exchanges

n) "Market" signifies a gathering/stage where purchasers and venders.

2) ARTICLE 2 : TERM OF AGREEMENT
a) Effective Date – From the date of section into agreement to date of conveyance by
last gathering considered as successful date

B) Validity - arrangement will be legitimate for a term starting from the Effective
Date until the expiry Date except if ended before. This Agreement will, subject to
Article 2.4, naturally end, except if commonly, stretched out by all the Parties on
commonly concurred terms and conditions, in any event ninety (90) days before the
Expiry Date, subject to endorsement of the Karnataka Electricity Regulatory
Commission.

C) Early Termination - Agreement can be ended before the Expiry Date according to
referenced in various statements. in such different conditions as the Seller and all
Procurers may concur, recorded as a hard copy.

D) Survival - Any accumulated rights, commitments and liabilities are not ended on
expiry or end of this Agreement.

3 ARTICLE 3 : CONDITIONS SUBSEQUENT TO BE SATISFIED BY SELLER/ PROCURER

Satisfaction of conditions subsequent by the Seller
 The Seller concurs and embraces to appropriately perform and finish the
accompanying exercises at the Seller's own expense and danger inside
Scheduled Delivery Date as recommended in condition.

 The Seller will have acquired all the essential authorization for the medium
term open access for the intrastate transmission framework from the Power
Station transport bar to the Injection Point (with the exception of if there
should be an occurrence of committed transmission lines.

 The Seller will have acquired the essential authorization for medium term open
access for the transmission framework from the Injection Point up to the
Delivery Point and will have executed the Transmission Service Agreement
with the transmission licensee for transmission of intensity from the Injection
Point up to the Delivery Point and gave a duplicate of the equivalent to the
Procurer.

 The Seller will have sent a composed notification to all the Procurer(s)
demonstrating the Aggregated Contracted Capacity for the Power Station
overall communicated in MW.

Satisfaction of conditions subsequent by the Procurer(s)

Purchaser/Procurer
a) The Procurer of intensity ought to encourage the portrayal of the dealer in
the important gathering in organizing on relevant interstate and provincial
transmission linkages required from the Injection Point to the Delivery Point.

b) Buyer is capable to orchestrate getting transmission linkage from the Power

Station switchyard to the Delivery Point.

c) The Buyer ought to acquire all the essential transmission linkage for MTOA
for the transmission framework from the Power Station switchyard.

2) Non Fulfillment Consequences

All the Procurer(s) will hold the choice to end this Agreement by giving a
formal notice to the following Party recorded as a printed version of at any
rate seven (7) days if there should arise an occurrence of non-fulfillment of
conditions .The finish of the Agreement will deliver results upon the expiry of
the last date of the said notice time span.

3) Agreement Performance Guarantee

The Performance Guarantee furnished under this Agreement will be for

guaranteeing the commencement and congruity of the deftly of impetus to the
Contracted Capacity inside the time demonstrated in this Agreement. The
failure regarding the Seller to outfit and keep up the Contract Performance
Assurance will be a material infiltrate of the term of this Agreement as for the
Merchant.

On the off chance that the Seller fails to start effortlessly of power on the
Scheduled Delivery Date demonstrated in this Agreement.

4) Renewal of Contract Performance Guarantee

a) The Seller will ensure the re - foundation of the Contract Performance

Guarantee before a date which is thirty days going before the expiry of the
then existing authenticity of the Contract execution Guarantee.
b) Such revived Contract Performance Guarantee will be from the outset
significant for a period which is the lower of five (5) years or the evening out
Term of this Agreement.

C) If such expanded Contract Performance Guarantee isn't gotten by the date

decided over, the Procurer(s) will hold the choice to en money the then
existing Contract Execution Guarantee. 5) Return of Contract Performance
Guarantee

The purchaser will restore the agreement execution ensure in case of end of
this understanding.

ARTICLE 4

Inception of Supply of Power to Procurer(s) A) The Seller will be proficient to

start deftly of impetus to the Aggregated Contracted Capacity by the
Scheduled Delivery Date as embraced in Clause 1.3.1 of RFP according to the
game plans of this Agreement. B) The Seller will give the Procurer(s) and the
concerned RLDC/SLDC in any occasion Thirty ( 30) days advance principal
formed notice and in any occasion fifteen ( 15) days advance last made notice,
for start of effortlessly of force.

4.2 Seller's Obligations

A) Subject to the terms and conditions of this Agreement, the Seller endeavors
to be careful, at Seller's own cost and risk, for (a) getting all Consents,
Clearances and Permits other than those got under Article 3.1.1 and keeping
up all Consents, Clearances and Permits in full force and effect during the Term
of this Agreement; [Insert further in the occasion.

(b) the start of smoothly of power, up to the Aggregated Contracted Limit, to

the Procurer(s) no later than the Scheduled Delivery Date, with the end goal
that as an incredible aspect of the Contracted Capacity as can be made open
through the use of Prudent Utility Practices will be made available reliably to
meet the Procurers' arranging and dispatch necessities all through the Terms.
(c) getting all the major assents for the open access for the intrastate
transmission system for freeing from force from the Power Station transport
bar to the Injection Point (beside if there ought to be an event of committed
transmission lines).

(d) Acquiring open access for transmission of Aggregated Contracted Capacity

of intensity from the Injection Point to the Delivery Point.

Elective Source of Power Supply

During the Operating Period, if the Seller can't give effortlessly of ability to the
Procurer(s) up to the Aggregate Contracted Capacity from the Power Station
except for because of a Force Majeure Event or in view of a Procurer Event of
Default, the Seller is permitted to deftly control up to the Aggregate
Contracted Capacity from an elective age source to meet its responsibilities
under this Agreement.

ARTICLE – 5 (CAPACITY, AVAILABILITY AND DISPATCH)

1) Not withstanding any Scheduled Outage or Unscheduled Outage of the

making unit(s) or possibly of the transmission structure, the Seller will offer
available to be purchased the Contracted Capacity to the procurer(s) at the
Interconnection Point and sort out transmission up to the development Point.

2) Allocation of Generation Capacity

Force Station's Net Capacity to the Procurer(s) as demonstrated by the

conditions of this Agreement.

3) Availability Merchant will consent/changes with the approaches of the

material Law with respect to Availability Counting, unequivocally, to the
blueprints of the ABT and Grid Code identifying with affirmation of Availability
and the issues circumstantial thereto. On the off chance that the Aggregate
Contracted Capacity is some aspect of the Power Station's Net Capacity if there
ought to be an event of announced cutoff being not really the whole of all
contracted requirements of the Power Station having term of courses of action
more than one year, the open ability to the Procurer(s) for dispatch will be
reduced proportionately
4) Scheduling and Dispatch The will agree/agrees to the blueprints of the
material Law with respect to Dispatch orientation, expressly, to the plans of
the ABT and Grid Code relating organizing and Dispatch.

ARTICLE 6 Metering -

For establishment of Meters, Meter testing, Meter change and Meter analyzing
what not matters inadvertent thereto, the Seller and the Procurer(s) will follow
and be limited by the local Electricity Authority (Installation and Operation of
Meters) Regulations, 2006, the Grid Code and ABT as balanced and refreshed
every so often.

ARTICLE - 7 (INSURANCES)

Security Dealer will impact and keep up or cause to be affected and kept up
during and before the Operating Period, Insurances against such risks, with
such deductibles and with such sponsorships and co-guaranteed, which the
Prudent Utility Practices would by and large legitimize upkeep of and as
required under the Financing Agreements. Extra as unequivocally gave in this
Agreement or the Insurances, the benefits of any security guarantee made
considering difficulty or harm to the Power Station or any piece of the Power
Station will be first applied to rebuilding, substitution or recovery of such
affliction or underhandedness. On the off chance that a Force Majeure Event
passes on the Power Station not, presently monetarily and in fact possible and
the back up plans under the Insurances make parcel on a "complete
misfortune" or relative explanation, the Procurer will have no case on such
continues of such Insurance.

ARTICLE 8: BILLING AND PAYMENT

Buyer will pay the Seller on the month to month premise and should be paid in
Indian rupees. The Seller will issue to every Procurer a checked Monthly Bill for
the quickly going before Month not later than ten (10) days of the following
Month. In the event that the Monthly Bill for the rapidly going before Month is
given following ten (10) days of the following Month, the Due Date for part of
such Monthly Bill will be extricated up by thirty (30) days.
On the off chance that the date of beginning of easily of power falls during the
period between the head (first) day and up to and including the (fifteenth) day
of a Month, the essential Monthly Bill will be given for the period until the
most recent day

b) if the date of beginning of deftly of power falls after the (fifteenth) day of a
Month, the rule Monthly Bill will be given for the period beginning from the
Delivery Date until the most recent day of the quickly following Month. Given
further that if a Monthly Bill is gotten at the latest the (second) day of a
Month, it will be respected to have been bounced on the (second) Business
Day of such Month.

Segment of Monthly Bills

1) The Procurer will pay the entire payable under the Monthly Bill on the Due
Date to such record of the Seller, as will have been starting late provoked by
the Seller in simultaneousness with Article 8.3.4 underneath.
2)All segments made by the Procurer(s) will be appropriated by the Seller in
the going with sales of need.
3) Towards Late Payment Surcharge.

Payment Mechanism
a) Letter of Credit
b) Collateral
c) outcast Sales
d) Disputed Bill - the nuances of aggregate, right measure of entirety.

ARTICLE 9-FORCE MAJEURE

A 'Power Majeure' implies any occasion or condition or blend of occasions and

conditions including those conveyed underneath that absolutely or decently
forestalls or unavoidably postpones an Affected Party in the presentation of its
obligations under this Agreement, yet just if and to the degree that such
occasions or conditions are not inside the sensible control, plainly or by
recommendation, of the Affected Party and couldn't host been stayed away
from if the Influenced Get-together had taken sensible idea or changed in
accordance with Prudent Utility Practices.

Power Majeure Events - Demonstration of God, including, in any case not

bound to lightning, dry spell, fire and effect on (the degree beginning from a
source outside to the site), quake, volcanic dispatch, heavy slide, flood, twister,
hurricane, cyclone, or astoundingly compromising climate conditions which are
in overabundance of the veritable measures for the last hundred (100) years,

Force Majeure Events

(a) Nationalization or significant creation sure about by any Indian

Governmental Instrumentality (under the State Government(s) of the
Procurer(s) or the local Government of India) of any material resources or
advantages of the Seller;

(b) the unlawful, strange or serious repudiation of, or refusal to reestablish,

any Consents.

Power Majeure Events not inferable from the Procurer

(a) Nationalization or necessary getting by any Indian Governmental

Instrumentality (other than those under the State Government(s) of the
Procurer(s)) of any material resources or advantages of the Seller.

(b) the unlawful, preposterous or uneven renouncement of, or refusal to

restore, any Consents, Clearances and Permits required by Seller to play out its
obligations under the RFP Documents or any unlawful, over the top or harsh
refusal to allow any Consents, Clearances and Permits required for the
improvement/development of the Power Station, gave that a Competent Court
of Law expresses the renouncing or refusal to be unlawful.

ARTICLE 10 - CHANGE IN LAW

"Change in Law" signifies the event of any of the going with occasions after the
date, which is seven (7) days before the Bid Deadline occurring into any extra
repeating/non-reiterating use by the Seller or any remuneration to the Seller.
• The solicitation, getting feasible, task, disclosure, update, change or
cancelation (without re-underwriting or blend) in India, of any Law, including
rules and rules confined by such Law;

• A modification in the perception or usage of any Law by any Indian

Administrative Instrumentality having the lawful capacity to decipher or apply
such Law, or any Competent Court of Law.

• The weight of a fundamental for getting any Consents, Clearances and Grants
which was not needed beforehand.

• An adjustment in the terms and conditions upheld for getting any Consents,
Clearances and Permits or the idea of any new terms or conditions for getting
such Consents, Clearances and Permits; alongside because of any default of
the Vender;

• Any change in cost or presentation of any assessment made proper for easily
of power by the Seller according to the conditions of this Agreement.

ARTICLE 11: EVENTS OF DEFAULT AND TERMINATION

(1)The event and continuation of any of the going with occasions, beside if any
such occasion occurs because of a Force Majeure Event or an enter by Procurer
of its obligations .

(ii) After the Delivery Date, the impedance of intensity deftly by the Seller for a
consistent period of fifteen (15) Days and such default isn't balanced inside five
(05) Days from the receipt of first notice from the Procurer(s) in such way.
Given that a separating or liquidation of the Seller won't be a Seller Event of
default if such disintegrating or liquidation is with a definitive goal of a merger,
blend or fixing up and where the following affiliation keeps meeting the
Qualification Necessities concerning the RFP,and holds constancy like the Seller
and unequivocally recognize all duties of the Seller under this Agreement and
is in a circumstance to perform them.

ARTICLE 12 - LIABILITY AND INDEMNIFICATION

Any loss of or harm to property of such unapproachable, or pulverization or
injury to such untouchable, emerging from a break by the Seller of any of its
duties under this Understanding, anyway to the degree that any such case,
activity, suit or continuing has ascended by virtue of a wild display or evasion,
invade of this Agreement or break of legitimate responsibility concerning
Procurer(s), its lawfully restricting experts, workers or heads.

An Indemnifying Party may, at its own expense, expect control of the insurance
of any methodology brought against the Indemnified Party if it perceives its
promise to repay such Indemnified Party, gives such Indemnified Party brief
notice of its mean to acknowledge control of the protect, and uses a self-
sufficient real knowledge at its own cost that is reasonably tasteful to the
Indemnified Party

b) all afflictions, harms, expenses and costs including veritable costs, fines,
trains additionally, intrigue genuinely continued on through or accomplished
by Procurer(s) from distant cases creating by reason.

(I) invade by the Seller of any of its obligations under this Agreement, (given
that this Article 12 won't have any sort of impact to such enters by the Seller,
for which unequivocal fixes have been obliged under this Agreement) yet to
the degree that any such incidents, harms, expenses and costs including
genuine costs, fines, teaches and intrigue (together to contain Indemnifiable
Losses has ascended considering an unwise appearing or oversight, break of
this Agreement or penetrate of legitimate duty concerning Procurer(s), its
lawfully restricting workers, workers or stars, or

(ii) Any of the portrayals or affirmations of the Seller under this Agreement
being discovered to be confused or counterfeit.

ARTICLE 13: ASSIGNMENTS AND CHARGES

This Agreement will be real upon, and adjust to the advantage of the Parties
and their individual replacements and allowed allocates. This Agreement won't
be transferred by any social gathering by some unexpected techniques in
comparison to ordinary assent between the Parties to be confirmed recorded
as a printed duplicate .
Given that, such assent won't be held if the Procurer(s) endeavors to move to
any transferee the total of its advantages and obligations under this
Agreement (a) Such transferee is either the proprietor or chief of all or by and
large the entire of the stream game-plan of such Procurer(s) and also such
transferee is a replacement segment of the Procurer (b) This Agreement and
the other RFP Documents will keep staying authentic and conclusive on such
replacement.

ARTICLE 14: GOVERNING LAW AND DISPUTE RESOLUTION

This Agreement will be addressed by and grasped by the Laws of India. Any
genuine methodologies in regard of any issues, cases or requests under this
Understanding will be under the area of fitting courts in Karnataka.

Any Dispute rising up out of a case made by any Party for any alteration in
Tariff or any issue related to Tariff or claims made by any Party which fairly or
completely relate to any modification in the Tariff of any of such cases could
achieve change in the Tariff, will be submitted to intervention by the
Appropriate Commission. Offer against the decisions of the Appropriate
Commission will be made particularly as per the courses of action of the
Electricity Act, 2003, as changed sometimes

Warm Settlement Either Party is prepared for raise any case, question or
separation of whatever nature ascending under, out of or regarding this
Agreement ( "Conversation") by giving a framed admonition (Dispute Notice)
to the accompanying Party, which will contain:

(I) a delineation of the Dispute;

(ii) The clarification behind such Dispute; and

(iii) All shaped material for its case