Petition Seeking Declaration of PPA Termination & Release of Bank Guarantee Issued to the Respondent
Petition under Section 79(1)(f) read with Section 79(1)(a), (b) and (k) of the Electricity Act, 2003 seeking inter alai a declaration that the Power Purchase Agreement dated 16.3.2020 stands validly terminated and/or discharged, and seeking the release of the Performance Bank Guarantee issued to the Respondent.
After hearing the learned senior counsels for the parties, the Commission ordered as under:
(a) The Petitioner to array KSEB as a party and file revised memo of parties.
(b) Issue notice to KSEB.
(c) The Petitioner to serve copy of the Petition and IA on the Respondent including KSEB, if not already served and the Respondent, including KSEB to file its reply by 17.6.2021, after serving copy to the Petitioner, who may file its rejoinder, if any, by 30.6.2021.
(c) Parties to comply with above directions within the specified timeline and no extension of time shall be granted.
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tags: CERC KSEB SECI Sprng Energy Wind