In an amendment to the competitive bidding guidelines for procuring power from grid-connected solar photovoltaic (PV) projects, issued by the Ministry of New and Renewable Energy (MNRE) in July 2019, it was noted that the project developers need to maintain a controlling shareholding of 51% in the special purpose vehicle (SPV) or project company executing the power purchase agreement (PPA). Up until 2019, this period of maintaining controlling the shareholding in the SPV or project company used to be for one year after the COD. This has now been amended for a period of three years after the commercial operation date (COD) of the project.