S.L. 545.32 Art. 5Determination of the price per kWh.

(1) The awarded bid price per kWh resulting pursuant to a competitive bidding process shall be paid in each calendar year up to a capped amount of units of electricity generated and sold to the distribution system operator and payable for the guaranteed period.

(2) The awarded bid price per kWh shall be determined by "pay-as-bid" such that the successful bidders shall be paid, for the electricity generated and sold to the distribution system operator from an approved renewable energy installation, the awarded bid price per kWh based on their actual bid.

(3) The bidder shall submit the bid price per kWh for each eligible renewable energy installation as required in the competitive bidding process.

(4) The awarded bid price per kWh shall only be applicable to a successful bidder and only in respect of the renewable energy installation as described in the bid including the capacity offered in the bid (in kW), as part of the competitive bidding process. The capacity SOURCES OF ENERGY INSTALLATIONS (CAPACITY 545.32 FROM 40KW UP TO LESS THAN 1000KW)

associated with the bid price shall be deemed to be equal to:

Offered kW x Full Load Hours 1600

(5) Without prejudice to sub-regulation (4), the ownership of an approved renewable energy installation selected pursuant to a competitive bidding process may be transferred to a third party and subject to the third party obtaining the necessary permits, authorisation and licences, as may be applicable.

(6) The awarded bid price per kWh with respect to an approved renewable energy installation shall be payable for the actual number of units of electricity generated by such installation and sold to the distribution system operator, up to the annual threshold calculated as offered kW x Full Load Hours:

Provided that the number of assumed full load hours in the case of a solar photovoltaic installation shall be equal to 1600 hours:

Provided further that in the case of other types of renewable energy installations, such as wind energy, the number of full load hours which shall determine the annual threshold for the payment of the awarded price per kWh, shall be specified in the terms and conditions applicable in the relevant competitive bidding process.

(7) Any units generated above the amount calculated in sub-regulation (6) of this regulation in any calendar year shall be purchased by the distribution system operator and paid at the proxy for the market price per kWh only, without the payment of the premium.

(8) The successful bidders shall not be entitled to tradeable guarantees of origin or other tradeable certificates for the electricity sold to the distribution system operator.

(9) Without prejudice to sub-regulations (4) and (5), an approved renewable energy installation may be relocated to an alternative site subject to obtaining the necessary permits, authorisations and licenses as may be applicable, and subject to the conditions laid down in the competitive bidding procedure.