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Commercial Power Purchase Agreement
"Need a Commercial Power Purchase Agreement for our 50MW solar facility in Cornwall, with a 15-year term starting March 2025, including provisions for REGOs and a minimum take-or-pay obligation of 80% of generated output."
1. Parties: Identification and details of the power generator and purchaser
2. Background: Context of the agreement, including facility details and purpose
3. Definitions: Key terms used throughout the agreement including regulatory and technical terminology
4. Sale and Purchase Obligations: Core obligations regarding electricity supply and purchase, including delivery points and volume commitments
5. Pricing and Payment: Price calculation methodology, invoicing procedures, and payment terms
6. Term and Termination: Duration of agreement, renewal options, and termination rights and procedures
7. Metering and Reporting: Requirements for measuring and reporting electricity delivery and consumption
8. Force Majeure: Provisions dealing with events beyond parties' reasonable control
9. Governing Law and Disputes: Application of English and Welsh law and dispute resolution procedures
1. Green Certificates: Provisions for handling REGOs and other environmental attributes when renewable energy sources are involved
2. Change in Law: Provisions addressing regulatory changes and their impact on the agreement
3. Credit Support: Financial security requirements and credit protection mechanisms
4. Capacity Market: Provisions relating to capacity market participation and revenue sharing
5. Grid Connection: Specific provisions relating to grid connection and compliance requirements
1. Schedule 1 - Facility Description: Technical specifications and details of the generation facility
2. Schedule 2 - Pricing Mechanism: Detailed price calculations, adjustments, and worked examples
3. Schedule 3 - Operating Parameters: Technical specifications, operating procedures, and performance requirements
4. Schedule 4 - Metering Specifications: Technical requirements for metering equipment and data collection
5. Schedule 5 - Form of Performance Security: Template for guarantees, letters of credit, or other security instruments
6. Schedule 6 - Communications Protocol: Procedures for operational communications and notifications
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