To the much relief of RE developers over their concerns on imposition of safeguard duty on the solar modules import, CERC in its breakthrough judgement this week has allowed imposition of the “Safeguard Duty‟ covered as the event classified as “Change in Law‟ under first, second and sixth bullet of Article 12 of the PPA. The Claim of RE developer i.e ACME shall be paid within sixty days of the date of the Order or from the date of submission of claims by the ACME whichever is later failing which it will attract late payment surcharge as provided under PPAs.
ACME Solar Holdings Limited entered into a Power Purchase Agreement in Sept’2017 with SECI, for the setting up of solar power project of 100 MW capacity in the State of Rajasthan and for the consequent sale of solar power to the SECI.
