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Contract For Differences PPA

Contract For Differences PPA Template for Ireland

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Key Requirements PROMPT example:

Contract For Differences PPA

"I need a Contract for Differences PPA for a 50MW offshore wind project in County Cork, Ireland, with commercial operations starting in March 2025, including specific provisions for grid connection and RESS compliance."

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Document background
The Contract for Differences PPA is a crucial instrument in Ireland's energy market, particularly for renewable energy projects seeking long-term price certainty. This type of agreement is commonly used when a power generator needs to secure stable revenue streams to support project financing while protecting the offtaker from market price volatility. The document combines elements of traditional power purchase agreements with sophisticated financial settlement mechanisms, creating a hybrid structure that addresses both physical electricity delivery and financial settlement. The Contract for Differences PPA includes comprehensive provisions for calculating payments based on the difference between an agreed strike price and market reference price, along with detailed operational requirements, metering provisions, and risk allocation mechanisms. This agreement type is particularly relevant under Ireland's Renewable Electricity Support Scheme (RESS) and must comply with both Irish energy regulations and relevant EU directives.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement, typically the Generator and the Offtaker

2. Background: Context of the agreement, including facility details and purpose of the CfD PPA

3. Definitions: Comprehensive definitions of terms used throughout the agreement, including technical and financial terms

4. Term and Conditions Precedent: Duration of the agreement and conditions that must be satisfied before the agreement becomes effective

5. CfD Payment Mechanisms: Core section detailing the CfD calculation methodology, strike price, and reference price mechanisms

6. Metering and Recording: Requirements for measuring and recording electricity generation and delivery

7. Billing and Payment: Procedures for invoicing, payment timing, and dispute resolution related to payments

8. Generator Obligations: Key obligations of the generator including maintenance, insurance, and compliance requirements

9. Offtaker Obligations: Key obligations of the offtaker including payment and market participation obligations

10. Force Majeure: Events constituting force majeure and their consequences

11. Default and Termination: Events of default, cure periods, and termination rights

12. Change in Law: Provisions dealing with regulatory changes affecting the agreement

13. Dispute Resolution: Procedures for resolving disputes between parties

14. Confidentiality: Provisions regarding confidential information and permitted disclosures

15. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction

Optional Sections

1. Construction and Commissioning: Required for projects not yet operational, detailing construction milestones and commissioning procedures

2. Credit Support: Include when parties require specific credit support or security arrangements

3. Market Registration: Required when specific market registration obligations need to be detailed

4. Green Benefits: Include when dealing with renewable energy certificates or other environmental attributes

5. Grid Connection: Include when specific grid connection requirements need to be addressed

6. Testing: Required for new facilities requiring performance testing provisions

7. Refinancing Provisions: Include when project financing arrangements require specific provisions

8. Change of Control: Include when restrictions on ownership changes are required

Suggested Schedules

1. Facility Description: Technical details of the generation facility including location, capacity, and technology

2. CfD Payment Calculations: Detailed methodology for calculating CfD payments including formulas and examples

3. Metering Specifications: Technical requirements for metering equipment and procedures

4. Operating Parameters: Technical parameters for facility operation including availability requirements

5. Performance Requirements: Specific performance standards and testing procedures

6. Form of Direct Agreement: Standard form of direct agreement for use with project finance providers

7. Communication Protocols: Procedures for operational communications between parties

8. Insurance Requirements: Detailed insurance requirements and minimum coverage levels

9. Form of Guarantees: Standard forms for any required parent company or performance guarantees

10. Settlement System Interface: Technical requirements for interfacing with market settlement systems

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





































































Clauses









































Relevant Industries

Renewable Energy

Power Generation

Utilities

Energy Trading

Infrastructure

Project Finance

Clean Technology

Industrial Manufacturing

Relevant Teams

Legal

Commercial

Risk Management

Finance

Operations

Regulatory Affairs

Trading

Business Development

Project Development

Treasury

Compliance

Relevant Roles

Energy Trading Manager

Commercial Director

Legal Counsel

Risk Manager

Project Finance Manager

Business Development Director

Operations Manager

Regulatory Compliance Officer

Chief Financial Officer

Energy Markets Analyst

Contract Manager

Project Developer

Power Purchase Agreement Specialist

Investment Manager

Technical Director

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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