Tuesday 13 June 2017

Take or Pay PPA

NEA has recently changed the “Take and Pay PPA” to “Take or Pay PPA” All projects including those which have "Take and Pay PPA" are entitled for the amendment provided their Commercial Operation Date (COD) is before mid-July 2026 AD.



Previously NEA signed PPA with the developers by putting a condition. “NEA will not be liable to compensate from Fiscal Year 2019/20 to 2028/29 in the event of Project to be operated according to the instruction of Load Dispatch Centre”



Now, the PPA has been amended by putting a clause that will make NEA liable to pay compensation in the event of failure of NEA to receive Contract Energy, caused due to Forced Outage or Dispatch Instruction. However, it goes further by saying, “NEA shall purchase 90 percent of Availability Deceleration up to the Contract Energy from the month Ashad (mid-June to mid-July) to Kartik (mid-October to mid-November) and the remaining 10 percent shall be kept as Reserve Margin which shall be purchased according to the instruction of Load Dispatch Centre. NEA shall not be liable to pay the additional compensation for the Reserve Margin in the event of Project to be operated according to the instruction of Load Dispatch Centre" This condition will be applicable from fiscal year 2020/21 A.D. to 2024/25 A.D.

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