The Gujarat Electricity Regulatory Commission (GERC) has restrained Gujarat Urja Vikas Nigam (GUVNL) from terminating its power purchase agreement (PPA) for the uncommissioned capacity of a 280 MW solar project until the final adjudication of the developer’s force majeure claims.However, the Commission refused to prevent GUVNL from invoking or encashing the developer’s performance bank guarantee (PBG) of ₹649.6 million (~$6.85 million), holding that the developer had failed to establish exceptional circumstances warranting such protection.
