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Power Purchase Agreement Solar

Power Purchase Agreement Solar Template for Ireland

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Key Requirements PROMPT example:

Power Purchase Agreement Solar

"I need a Power Purchase Agreement Solar for a 50MW solar farm in County Cork, Ireland, with a corporate buyer who wants to start purchasing power from March 2025, including provisions for battery storage and green certificates."

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Document background
This Power Purchase Agreement Solar template is designed for use in Ireland's renewable energy market, specifically for solar power projects. It serves as the primary commercial agreement between solar power generators and electricity buyers, whether corporate or utility offtakers. The document is essential for projects seeking project finance, as it provides the revenue certainty required by lenders. It includes provisions compliant with Irish electricity market regulations, including the Single Electricity Market (SEM) rules, and accounts for requirements under the Renewable Electricity Support Scheme (RESS) where applicable. The agreement covers all crucial aspects from power sale obligations and pricing to technical requirements and environmental attributes, while incorporating specific Irish law requirements and market practices. It's particularly relevant for new solar developments but can be adapted for operational assets, and includes options for both behind-the-meter and grid-connected projects.
Suggested Sections

1. Parties: Identification of the Generator (seller) and Buyer, including full legal names and registered addresses

2. Background: Context of the agreement, including facility details, purpose of the agreement, and relevant regulatory framework

3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation

4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including delivery points and exclusivity provisions

5. Term and Termination: Duration of the agreement, conditions precedent, and circumstances for early termination

6. Price and Payment: Pricing mechanism, payment terms, invoicing requirements, and dispute procedures

7. Metering and Recording: Requirements for measuring and recording electricity delivery

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

9. Buyer Obligations: Specific obligations of the Buyer including payment and cooperation requirements

10. Force Majeure: Definition of force majeure events and their consequences

11. Default and Remedies: Events of default and corresponding remedies available to parties

12. Assignment and Change of Control: Conditions for transfer of rights and obligations under the agreement

13. Confidentiality: Provisions regarding confidential information and permitted disclosures

14. Governing Law and Disputes: Choice of law, jurisdiction, and dispute resolution procedures

15. Notices: Process and requirements for formal communications between parties

16. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Green Benefits: Provisions regarding renewable energy certificates, carbon credits, and other environmental attributes - include when these are being traded separately from the electricity

2. Development and Construction: Include for projects not yet operational, covering construction milestones and requirements

3. Performance Guarantees: Technical performance guarantees and liquidated damages - include when specific performance levels are crucial

4. Grid Connection: Grid connection requirements and responsibilities - include when grid connection is not yet established

5. Change in Law: Provisions for handling regulatory changes - include when long-term contract or regulatory uncertainty exists

6. Operating Committee: Establishment and powers of joint operating committee - include for complex or large-scale projects

7. Storage Provisions: Include when the solar facility includes battery storage components

8. Direct Agreement: Include when project financing is involved, covering lender rights and step-in provisions

Suggested Schedules

1. Facility Description: Detailed technical specifications of the solar facility including location, capacity, and equipment

2. Testing and Commissioning: Procedures and requirements for facility testing and commissioning

3. Pricing Schedule: Detailed pricing mechanisms, calculations, and adjustments

4. Operating Parameters: Technical parameters, performance standards, and operating procedures

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

6. Form of Direct Agreement: Template agreement between Buyer, Generator, and Lenders

7. Insurance Requirements: Required insurance coverage and terms

8. Form of Performance Security: Template for any required performance bonds or guarantees

9. Grid Connection Details: Specifications of grid connection point and requirements

10. Contact Details: List of key contacts and authorized representatives

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




















































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Relevant Industries

Energy & Utilities

Renewable Energy

Infrastructure

Project Finance

Construction

Manufacturing

Real Estate

Technology

Sustainability Services

Relevant Teams

Legal

Commercial

Finance

Project Development

Energy Trading

Sustainability

Risk Management

Procurement

Business Development

Environmental Compliance

Treasury

Relevant Roles

General Counsel

Legal Director

Commercial Director

Project Finance Manager

Energy Trading Manager

Sustainability Director

Renewable Energy Developer

Corporate PPA Manager

Risk Manager

Commercial Manager

Project Development Manager

Energy Procurement Manager

Chief Financial Officer

Environmental Compliance Officer

Business Development 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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