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Corporate Power Purchase Agreement
"I need a Corporate Power Purchase Agreement for a 50MW solar farm in Norfolk, with a 15-year term starting from March 2025, where we'll be selling power to a major tech company for their UK data centers."
1. 1. Parties: Identification and details of the power generator and corporate buyer
2. 2. Background/Recitals: Context of the agreement, including facility details and parties' objectives
3. 3. Definitions and Interpretation: Key terms and interpretation rules used throughout the agreement
4. 4. Sale and Purchase Obligations: Core obligations regarding electricity sale, purchase, and delivery
5. 5. Term and Termination: Duration of agreement and termination circumstances
6. 6. Pricing and Payment: Price structure, payment terms, and invoicing requirements
7. 7. Metering and Records: Requirements for measuring and recording electricity delivery
8. 8. Force Majeure: Circumstances excusing performance and related procedures
9. 9. Representations and Warranties: Standard legal assurances from both parties
1. Environmental Attributes: Treatment of renewable energy certificates and credits - used when renewable energy attributes are being transferred
2. Development and Construction: Obligations regarding facility construction - used for new facilities not yet operational
3. Credit Support: Financial security requirements - used when credit risk mitigation is required
4. Change in Law: Procedures for addressing regulatory changes - used for longer-term agreements
1. Schedule 1 - Facility Description: Technical details of the generating facility
2. Schedule 2 - Pricing Schedule: Detailed pricing mechanisms and calculations
3. Schedule 3 - Operating Parameters: Technical operating requirements and procedures
4. Schedule 4 - Form of Direct Agreement: Standard form for lender direct agreements
5. Schedule 5 - Metering Specifications: Technical requirements for metering equipment
6. Schedule 6 - Performance Security: Forms of required security instruments
7. Schedule 7 - Insurance Requirements: Required insurance coverage details
8. Schedule 8 - Generation Forecasting: Procedures for forecasting generation output
Authors
Adjusted Output
Affiliate
Agreement
Annual Contract Quantity
Balancing Mechanism
Billing Period
Business Day
Capacity
Change in Law
Commercial Operation Date
Competent Authority
Contract Price
Contract Year
Delivery Point
Effective Date
Electricity
Energy Attributes
Environmental Attributes
Event of Default
Facility
Force Majeure Event
Generation Forecast
Good Industry Practice
Grid
Grid Code
Grid Connection Agreement
Grid Operator
Initial Delivery Date
Installed Capacity
Law
Lenders
Market Price
Metering Equipment
Minimum Guaranteed Output
Operating Parameters
Planned Maintenance
Project
Project Documents
REGO
Required Authorisations
Settlement Period
Shortfall
Specified Facility
Term
Termination Date
Transmission System
Unit
VAT
Conditions Precedent
Term and Termination
Delivery Obligations
Metering
Pricing and Payment
Invoicing
Credit Support
Force Majeure
Change in Law
Representations and Warranties
Covenants
Events of Default
Remedies
Transfer of Environmental Attributes
Construction and Development
Testing and Commissioning
Performance Standards
Operating Requirements
Maintenance
Grid Connection
Balancing Obligations
Reporting Requirements
Records and Audit Rights
Insurance
Assignment and Transfer
Confidentiality
Dispute Resolution
Governing Law
Change Control
Notices
Liability and Indemnification
Anti-corruption
Data Protection
Entire Agreement
Severability
Waiver
Third Party Rights
Counterparts
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