https://www.taxtmi.com/caselaws?id=278580 A contractual commercial operation date under a power purchase agreement could not be treated as achieved where the performance test certificate did not satisfy the stipulated 95% contracted-capacity standard and the commissioning conditions remained unmet. The Court held that waiver of that requirement was not established because waiver needs a clear and intentional relinquishment of a known contractual right; the correspondence showed only a limited operational acceptance of de-rated capacity, not waiver of the COD condition. It further held that any waiver affecting tariff in a competitively bid electricity arrangement could not be enforced where it would prejudice consumer and public interest. The finding accepting COD on 31.3.2013 and waiver was therefore set aside. en-us Thu, 08 Dec 2016 00:00:00 +0530 Wed, 29 Dec 2021 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278580 A contractual commercial operation date under a power purchase agreement could not be treated as achieved where the performance test certificate did not satisfy the stipulated 95% contracted-capacity standard and the commissioning conditions remained unmet. The Court held that waiver of that requirement was not established because waiver needs a clear and intentional relinquishment of a known contractual right; the correspondence showed only a limited operational acceptance of de-rated capacity, not waiver of the COD condition. It further held that any waiver affecting tariff in a competitively bid electricity arrangement could not be enforced where it would prejudice consumer and public interest. The finding accepting COD on 31.3.2013 and waiver was therefore set aside. Case-Laws Indian Laws Thu, 08 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278580