Amendment #4 Page 229 of 868 Ilerstr . 91P-stgArfs.1 India The Erect oly Act, 2003, or 'Electrony Act' is the panepal leg stston that regulates the generation transmission. draritst,on, trading and use of electricity n toe The Electricity Act governs the eStabbstment, Operation and maintenance of any energy generating company and prescnbes technical sterols rds n relation to is tatnetirerty with the Indian power grid The ElecIncity Ad provides that an energy generating company may establish. operate and maintain a generalng facility without obtanrg a balite Ontlet the Elegl nonV Act If e oartPtieS with the presaged technical standards mimeo to connedyny with the power gild In addition. an energy generattg company rs permitted to sell e.t.a not), to any Ontritstion a tracing licensee and where permitted by the respective slate regulatory coin mssons. to consumers subbed to eyeing open access to the liaremsson and distributon systems and payment of applicable charges The Electricity Act establishes a two-level regulatory system (i) the Central Eectricity RegaLVory Canmisson, or 'CERC.' is responsible for regulating the tale charged by generabng locates owned by the Indian government and otter Independent power producers involved in generating or supplying electncty m more than one state, and fa regulabng the interstate lianvnisson of electricity, and (to) Slate Electncly Regulatory CornrrassonS. Or 'SERCs.' are responsive for regulating rdrattate transinsson and wavy d electlicty within each of their respective slates These cornmsvons are responsible for a vanety of functions ncluding determining muff levee, granting 'tenses, settling defy/es between the generating companies and the licensees The 'mien government has established the Ministry of New arc Renewable Energy. or 'MNRE: to faaµate on a national level research. development. commeicializahon and deployment of renewable energy systems for various aPPlcatons in resat trban industrial and commerci