sƒ ANALYSIS & PERSPECTIVES ON COURT ORDERS. SECTOR: RENEWABLE ENERGY. For Orders passed in India by the Supreme Court and various electricity adjudicating authorities upto May 21st, 2021. COURT ORDER ANALYSIS - SECTOR: RENEWABLE ENERGY CONTENTS FOREWORD ........................................................................................ 7 THE FIRM: AN OVERVIEW ................................................................. 9 Our Services in the Renewable Energy Sector ................... 10 Strategy and Advisory ............................................................. 10 Bid Process Management ....................................................... 11 Equity Transactions ................................................................. 11 Debt Transactions ................................................................... 11 Project Development and Project Finance .............................. 11 Regulatory and Policy ............................................................. 12 Real Estate .............................................................................. 12 Contract & Claims Management ............................................. 12 Recognition and Accolades in the Energy Sector ................ 13 Key Partners Specializing in the Energy Sector .................. 14 OUR ANALYSIS & PERSPECTIVE ON ORDERS FROM COURTS & COMMISSIONS ................................. 16 Powerlines in the Great Indian Bustard Habitats in Gujarat and Rajasthan should be laid underground ............................................................. 16 Issues ............................................................................................. 16 Analysis .......................................................................................... 16 Conclusion ...................................................................................... 17 Our Perspective ....................................................................... 17 PPAs cannot be terminated during the period of Moratorium ............................................................ 18 Issues ............................................................................................. 18 Analysis .......................................................................................... 18 Conclusion ...................................................................................... 19 Our Perspective ....................................................................... 19 Electricity Regulatory Commissions cannot initiate Public Hearings while adopting Tariffs discovered under the Competitive Bidding Process ............................................... 20 Issues ............................................................................................. 20 Analysis .......................................................................................... 20 Conclusion ...................................................................................... 21 Our Perspective ....................................................................... 21 Open Access is not an unfettered right of the Consumer .................................................................. 21 Issues ............................................................................................. 22 Analysis .......................................................................................... 22 Conclusion ...................................................................................... 22 Our Perspective ....................................................................... 23 Banking of Energy is a right of the # [ Private & Confidential ] 2/ 67 COURT ORDER ANALYSIS - SECTOR: RENEWABLE ENERGY CONTENTS Renewable Energy Generating Stations flowing from provisions of the Electricity Act, 2003 ............................................................. 23 Issues ............................................................................................. 23 Analysis .......................................................................................... 23 Conclusion ...................................................................................... 24 Our Perspective .............................................................................. 24 Carrying Costs cannot be granted if there is no provision in the PPA ....................................................... 25 Issues ............................................................................................. 25 Analysis .......................................................................................... 25 Conclusion ...................................................................................... 26 Our Perspective ....................................................................... 26 A Tariff cannot be reduced retrospectively .......................... 26 Issues ............................................................................................. 27 Analysis .......................................................................................... 27 Conclusion ...................................................................................... 27 Our Perspective ....................................................................... 28 Energy injections without a valid Energy Purchase Agreement (“EPA”) cannot be compensated .................................................................. 28 Issues ............................................................................................. 28 Analysis .......................................................................................... 29 Conclusion ...................................................................................... 29 Our Perspective ....................................................................... 29 State Commissions to have jurisdiction over projects set up under the JNNSM if 100% of the power is supplied within the same state ..................................................................... 29 Issues ............................................................................................. 30 Analysis .......................................................................................... 30 Conclusion ...................................................................................... 31 Our Perspective ....................................................................... 31 CERC’s denial to assume jurisdiction on SECI Projects ................................................................ 31 Issues ............................................................................................. 32 Analysis .......................................................................................... 32 Conclusion ...................................................................................... 33 Our Perspective ....................................................................... 33 Commissioning of a Solar Plant is dependent upon the intensity of sunrays ............................. 33 Issues ............................................................................................. 33 Analysis .......................................................................................... 33 Conclusion ...................................................................................... 34 Our Perspective ....................................................................... 34 The State ERC cannot delegate their responsibility to determine the quantum of # [ Private & Confidential ] 3/ 67 COURT ORDER ANALYSIS - SECTOR: RENEWABLE ENERGY CONTENTS compensation in a Change in Law dispute .......................... 35 Issues ............................................................................................. 35 Analysis .......................................................................................... 35 Conclusion ...................................................................................... 36 Our Perspective ....................................................................... 36 Change in Law petition cannot be admitted if there is uncertainty on the impact of any Change in Law on the project .............................................. 37 Issues ............................................................................................. 37 Analysis .......................................................................................... 37 Conclusion ...................................................................................... 38 Our Perspective ....................................................................... 38 Safeguard Duty is considered as a ‘Change in Law’ ................................................................... 39 Issues ............................................................................................. 39 Analysis .......................................................................................... 39 Conclusion ...................................................................................... 39 Our Perspective ....................................................................... 40 Custom Bonds could be accepted for payments of SGD ................................................................ 40 Analysis .......................................................................................... 40 Conclusion ...................................................................................... 41 Our Perspective ......................................................................