(1) In case of the projects covered under these Regulations, the renewable energy generator or the distribution licensee may offer to sell/purchase power in any of the following manner:-
(i) for the entire tariff period starting from the date of commencement of operation of the project, by availing any of the available tariff option under regulation 12;
(ii) for the mutually agreed period(s) under the REC mechanism;
(iii) for the balance part of the tariff period, after having sold power initially under the REC mechanism, in accordance with the provisions of regulation 15;
(iv) in any other manner as may be mutually agreed in accordance with provisions of these Regulations:
Provided that the distribution licensee shall endeavour to procure power through competitive bidding, which, to start with, may be done separately for each type of renewable technology.
(2) In the event of their arriving at a mutual understanding on various issues of the Power Purchase Agreement, including the tariff option under regulation 12, the parties shall file a joint petition before the Commission for approval of the proposed Power Purchase Agreement and shall execute the requisite Power Purchase Agreement after approval of the Commission:
Provided that if the parties have arrived at a mutual understanding on the various issues of the Power Purchase Agreement, as aforesaid, and the renewable energy generator requires a Power Purchase Agreement to achieve the financial closure of the project, the parties may file joint petition for approval of the proposed Power Purchase Agreement before the financial closure.
1 [Provided further that in accordance with the Tariff Policy notified on 28.01.2016 by Ministry of Power, Government of India, the distribution licensee shall compulsorily procure 100% power from the waste energy plants in the State and such plants have also been excluded from the competitive bidding process for tariff determination.]