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Physical Power Purchase Agreement
"Need a Physical Power Purchase Agreement for a 50MW solar farm in Yorkshire, selling power to a large industrial consumer, with operations expected to commence in March 2025 and including provisions for REGOs transfer."
1. Parties: Identification of buyer and seller, including registered addresses and company details
2. Background: Context of the agreement, facility details, and purpose of the PPA
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding electricity delivery and offtake
5. Pricing and Payment: Price structure, payment terms, invoicing, and dispute mechanisms
6. Term and Termination: Duration of agreement and termination rights
7. Metering and Communications: Requirements for measuring delivered electricity
8. Operating Conditions: Technical requirements and operational procedures
1. Green Certificates: Provisions for handling REGOs and other environmental attributes - used for renewable energy facilities
2. Capacity Market: Provisions relating to capacity market participation - used when facility participates in capacity market
3. Development Obligations: Construction and commissioning requirements - used for facilities not yet operational
4. Change in Law: Mechanisms for dealing with regulatory changes - recommended for longer-term PPAs
1. Facility Description: Technical specifications of the generation facility
2. Testing Procedures: Commissioning and performance testing requirements
3. Operating Parameters: Detailed technical and operational requirements
4. Pricing Mechanism: Detailed price calculations and adjustments
5. Metering Specifications: Technical requirements for metering equipment
6. Form of Direct Agreement: Standard form for lender direct agreements
7. Communication Protocols: Procedures for operational communications
Authors
Annual Contract Quantity
Applicable Laws
Authorisation
Availability
Available Capacity
Balancing Mechanism
Change in Law
Commencement Date
Competent Authority
Connection Point
Contract Period
Contract Price
Deemed Generation
Delivery Point
Delivery Shortfall
Effective Date
Environmental Attributes
Event of Default
Expiry Date
Facility
Floor Price
Force Majeure Event
Good Industry Practice
Green Benefits
Grid Code
Installed Capacity
Material Adverse Effect
Maximum Capacity
Metering Equipment
Minimum Capacity
Operating Parameters
Party/Parties
Payment Date
Performance Standards
Planned Maintenance
Reference Price
Regulatory Requirements
Reliability Test
Renewable Energy Guarantees of Origin (REGOs)
Required Consents
Sustainability Requirements
Termination Date
Termination Notice
Transmission System
Delivery Obligations
Price and Payment
Metering
Title and Risk
Force Majeure
Planned Maintenance
Change in Law
Default and Termination
Representations and Warranties
Confidentiality
Dispute Resolution
Insurance
Assignment and Transfer
Notices
Governing Law
Grid Connection
Testing and Commissioning
Performance Standards
Environmental Attributes
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