Guidelines for determination of tariff & SBD for ... - Ministry of Power

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Standard PPA for … [Insert ‘medium’ or ‘long’, as applicable] term power procurement under Case -1 15.2.2 [Insert in case of Long Term procurement] The aggregate equity share holding of the ………[Insert “Lead Member” in case the Successful Bidder is a Bidding Consortium OR “the Successful Bidder” in case the Successful Bidder is a Bidding Company] in the issued and paid up equity share capital of the Seller shall not be less than the following: a) Fifty-one percent (51%) from the Effective Date up to a period of two (2) years after commencement of supply of power; and b) Twenty-six (26%) for a period of three (3) years thereafter. OR [Procurer(s)’s option to Insert in case of Medium Term procurement] The aggregate equity share holding of the ………[Insert “Lead Member” in case the Successful Bidder is a Bidding Consortium OR “the Successful Bidder” in case the Successful Bidder is a Bidding Company] in the issued and paid up equity share capital of the Seller shall not be less than the following: a) Fifty-one percent (51%) from the Effective Date up to a period of ………… (…..) years [Procurer / Authorized Representative to insert number of years] after commencement of supply of power; and b) Twenty-six (26%) for a period of ………… (…..) years [Procurer / Authorized Representative to insert number of years] years thereafter. 15.2.3 [Insert in case of Successful Bidder being a Bidding Company] All investors of the Seller, except the Bidding Company, shall be allowed to divest their equity as long as the other remaining investors hold the minimum equity specified in Article 15.2.2. 15.2.4 [Insert in case of Successful Bidder being a Bidding Consortium] All Members of the Seller, except the Lead Member, shall be allowed to divest their equity as long as the other remaining Members (which shall always include the Lead Member) hold the minimum equity specified in Article 15.2.2. 15.2.5 In case equity in the Seller is held by the Affiliate(s), Parent Company or Ultimate Parent Company, such Affiliate(s), Parent Company or Ultimate Parent Company shall be permitted to transfer its shareholding in the Seller to another Affiliate or Parent Company or Ultimate Parent Company. If any such shareholding entity, qualifying as an Affiliate /Parent Company/ Ultimate Parent Company, is likely to cease to meet the criteria to qualify as an Affiliate /Parent Company/ Ultimate Parent Company, the shares held by such entity shall be transferred to another Affiliate/ Parent Company/ Ultimate Parent Company. 15.2.6 All transfers of shareholding of the Seller by any of the entities referred to above, shall be after prior written permission from the Procurer(s). 15.2.7 For computation of effective Equity holding, the Equity holding of the Successful Bidder or its Ultimate Parent Company in such Affiliate(s) or Parent Company and the equity holding of such Affiliate(s) or Ultimate Parent Company in the Seller shall be computed in accordance with the example given below: If the Parent Company or the Ultimate Parent Company of the Successful Bidder A directly holds thirty percent (30%) of the equity in the Seller , then holding of Successful Bidder A in the Seller shall be thirty percent (30%); …….[Insert name of Procurer(s)] 81
Standard PPA for … [Insert ‘medium’ or ‘long’, as applicable] term power procurement under Case -1 If Successful Bidder A holds thirty percent (30%) equity of the Affiliate and the Affiliate holds fifty percent (50%) equity in the Seller, then, for the purposes of ascertaining the minimum equity/ equity lock-in requirements specified above, the effective holding of Bidder A in the Seller shall be fifteen percent (15%), (i.e., 30%* 50%) 15.2.8 The provisions as contained in this Article 15.2 shall override the terms of the consortium agreement submitted as part of the Bid. 15.2.9 [Insert this Article in case the PPA is being signed by the Seller being a Trading Licensee] The provisions contained in Article 15.2.1 to Article 15.2.7 shall not be applicable if the Seller is a Trading Licensee or in case of a Seller being a bidding company and not forming a separate Project Company . However the Seller in such case shall ensure that similar provisions as contained in Article 15.2.1 to Article 15.2.7 are incorporated in the exclusive power purchase agreement submitted by the Seller. In such case, the aforesaid provisions shall be applicable with respect to ………….. (Insert name of the majority investor in the Developer as specified in the power purchase agreement submitted as a part of the Selected Bid). The Seller shall ensure the compliance of the provisions mentioned in this Article 15.2.9. and any default on the part of the Seller in compliance of the same shall be an Event of Default in terms of Article 11. The Procurer(s) shall have the right to verify the compliance of the provision as mentioned in this Article 15.2.9. 15.3 Amendment 15.3.1 This Agreement may only be amended or supplemented by a written agreement between the Parties and after obtaining the approval of the Appropriate Commission, where necessary. 15.4 Third Party Beneficiaries 15.4.1 This Agreement is solely for the benefit of the Parties and their respective successors and permitted assigns and shall not be construed as creating any duty, standard of care or any liability to, any person not a party to this Agreement. 15.5 Waiver 15.5.1 No waiver by either Party of any default or breach by the other Party in the performance of any of the provisions of this Agreement shall be effective unless in writing duly executed by an authorised representative of such Party: 15.5.2 Neither the failure by either Party to insist on any occasion upon the performance of the terms, conditions and provisions of this Agreement nor time or other indulgence granted by one Party to the other Parties shall act as a waiver of such breach or acceptance of any variation or the relinquishment of any such right or any other right under this Agreement, which shall remain in full force and effect. …….[Insert name of Procurer(s)] 82
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No. 23/11/2004-R&R (Vol.II) -------
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(ii) For hydro-power projects, load
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(vi) Requisite Hydrological, geolog
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entered into between the concerned
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4.10 Adequate payment security shal
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authentic sources and is known to t
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(iv) Requirement of transfer of ass
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6. Escalation rate for different es
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completed in a period of 270 days.
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Sl. No. Activities to be completed
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Sl. No. Event Activities to be comp
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Standard RFP for ….[Insert ‘med
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1. INTRODUCTION Standard RFP for
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Sr. No Standard RFP for ….[Insert
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Sr. No 1.3.2 Evacuation of Power St
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Fax: E-mail: Standard RFP for ….[
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4.1 Format of Covering Letter To St
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Notes: Standard RFP for ….[Insert
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This Consortium Agreement Standard
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4. 5. 6. …. Standard RFP for ….
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4.7 Format of Undertaking (A) Bidde
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4.8 Format for Board Resolution Sta
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4.9 Format for Bid Bond Standard RF
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Name and address Standard RFP for
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Contr act Year Commenc ement Date o
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Contr act Year Commenc ement Date o
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4.11 Format of checklist for submis
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4.12 Format for Disclosure Standard
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5.5 Formats for RFP Documents Stand
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5.10 Transmission Charges Matrix St
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STANDARD POWER PURCHASE AGREEMENT F
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Standard PPA for … [Insert ‘med
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Guidelines for determination of tariff & SBD for ... - Ministry of Power

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