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A power asset in which captive buyer(s) consume at least 51% of the generated electricity and own at least 26% of the equity is known as Group Captive Power Procurement Model.Read More
The corporate buyer must hold at least 26% of the equity while the developer arranges for the rest 74%. A Long-term Power Purchase Agreement (PPA) can be signed on mutually agreed terms between the developer and the buyer. In such a project, the O&M responsibilities are usually passed on to the developerRead More
For a consumer which doesn’t want to invest 100% of the project cost, a group captive project will provide the lowest landed cost of power with minimum investment, because it is exempted from certain grid charges and particularly Cross Subsidy Surcharge.Read More
The corporate buyer should ensure that a Group Captive project is fully compliant with the spirit of the law, and with the Electricity Act and the proposed amendments to the Electricity Rules by following two simple guidelines:Read More
Given the regulatory requirement for the lead captive buyer to own a minimum of 26 percent of the power generating plant, ownership must be transferred to another captive buyer or back to the primary investor if the PPA terminates or expires. Parties typically agree to a put/call option structure to transfer the shares upon expiry/termination of the PPA. If either the captive generator or the buyer is a non-resident or foreign-owned and controlled entity, then subscription/purchase of equity shares as well as subsequent transfer must comply with the Reserve Bank of India’s pricing guidelines.