banking services chronicle magazine pdf in english november 2019
banking
services chronicle magazine pdf in english november 2019 Published this
article page no As an illustrative
example tariffs discovered in the Rewa solar park projects is largely
attributed to the availability of concessional funds and the availability of
payment security mechanisms to protect developers interests. For the Rewa
project four layers of payment security ensure that in the case of any delay or
even natural calamities that may lead to a transmission disruption payment to
developers is still guaranteed. The first tier of the security mechanism is a
letter of credit provided by off-takers DMRC and MPPMCL that equals a one-month
bill for the energy generated by developers. The second tier is a payment
security fund operated by Rewa Ultra Mega Solar Limited (RUMS). It consists of
three months of payment assurances in case the off-takers delay or make a
payment error. This three-month payment guarantee comes on top of the one-month
line of credit provided by offtakers. The third tier is the state guarantee
that if there are payment delays by off-takers then the state will step in to
pay the difference or the pending amount to the developers. The state
government is also providing the fourth tier of payment security by agreeing to
bear the cost in cases where a transmission outage lasts beyond 50 hours. These
provisions are now widely referred to as a model for de- risking Off-takers
risk. banking
services chronicle magazine pdf in english november 2019 banking services chronicle magazine pdf in english november 2019
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