June 2002
Beginner
344 pages
11h 7m
English
Content preview from Principles of Project Finance
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a Power Purchaser’s grid line going down) does not relieve it from the obligation
to pay the Availability or Unitary Charge, since the project is obviously still avail-
able even if unusable.
Loss of income or additional capital costs caused by temporary force majeure
should generally be covered by insurance (cf. §7.6), but this is usually a matter for
the Project Company to sort out, taking account of the provisions of the Project
Agreement.
Force majeure that makes it permanently impossible to complete or operate the
project is dealt with under the termination provisions discussed in §6.8.3.
§6.7 STEP-IN BY THE OFFTAKER OR
CONTRACTING AUTHORITY
As an interim measure on a default by the Project Company, the Offtaker or
Contracting Authority may also ...
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