CONTRACT ON DELIVERY AND SALE/PURCHASE OF ELECTRICITY WHILE CONNECTING TO THE DISTRIBUTION NETWORK, INSPECTING, TESTING AND COMMISSIONING OF A POWER PLANT UNDER CONSTRUCTION (RECONSTRUCTION)

The Generator, represented by the Company, is responsible for producing electricity, while the Distributor, represented by the Universal Supplier, is responsible for purchasing and distributing the electricity. The contract outlines the terms and conditions for the connection of the Generator's Plant to the Distribution Network, including the provision of Technical Conditions for connection, which are to be developed based on the connection diagram. The Distributor is required to ensure that the connection is implemented according to the Technical Conditions and to notify the Generator within 5 days of completing any necessary works. The contract also specifies the rights and responsibilities of the parties, including the Generator's obligation to produce and deliver electricity to the Distributor, and the Distributor's obligation to purchase and pay for the electricity delivered. The contract further outlines the procedures for metering and payment for electricity traded, including the use of a Special Account to secure guarantee payments. The contract defines various terms and conditions, including the Trading Rules, Generation License, Commercial Meter, Plant, Electricity System Operator, Commission, Metering Point, Metering Complex, Settlement Month, Special Account, Connection Point, Electricity Market Operator, Boundary Point, Control Meter, Technical Conditions, and Transmission Network Code. The contract also outlines the procedures for dispute resolution, including the use of an Arbitration Tribunal, and the validity of the contract, including the modification or termination procedure. The contract is governed by the Energy Law and other laws of the Republic of Armenia, as well as the Public-Private Partnership agreements. The contract is structured into 14 provisions, including definitions, subject of the contract, distribution network connection procedure, sale and purchase of electricity, rights and responsibilities of parties, metering and payment for electricity traded, metering complex, responsibilities of parties, force majeure situations, dispute resolution, additional conditions, validity of contract, modification or termination procedure, and notification of parties. The contract includes 9 annexes, which provide additional information on technical conditions for connection of the plant to the distribution network, application for distribution network connection permission, technical parameters for connection of the plant to the electric network, agreement on sale price of electricity, information on boundary, metering points, commercial (control) meters, and metering transformers, act on electricity subject to payment, protocol (act) on installation and replacement of electricity (capacity) metering complexes or their individual elements, and arbitration tribunal procedure. The contract is effective as of the date of signing and shall remain in force for the period specified in the Generation License, which may be extended once the construction period is extended. The contract may be modified or terminated in accordance with the procedures outlined in the contract.