Windows 2012 - Certificate Issue

My application runs as a WCF web-server in a Windows service. It uses https/ssl protocol and binds it's certificate with its port number.

During the Service start, I am seeing this error in Windows Event logs:

Error 3/27/2014 3:41:03 PM Schannel 36870 None "A fatal error occurred when attempting to access the SSL server credential private key. The error code returned from the cryptographic module is 0x8009030D. The internal error state is 10001."

Few hours later, the same error occurs and clients connected to this Webserver loose their connectivity. Also, the Webserver does not respond to new clients.

The same application does not have any issue in Windows 2008 R2. It is very specific to Windows 2012.