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Corporate PPA

Corporate PPA Template for Ireland

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Key Requirements PROMPT example:

Corporate PPA

"I need a Corporate PPA under Irish law for a 15-year term starting March 2025, where my technology company will purchase 100MW of wind power annually from a new facility in County Cork, with a focus on meeting our corporate sustainability goals and including provisions for renewable energy certificates."

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Document background
The Corporate PPA is a crucial instrument in Ireland's renewable energy landscape, used when companies seek to secure long-term, sustainable energy supply while supporting new renewable energy projects. This document type has gained significance with Ireland's commitment to renewable energy targets and corporate sustainability goals. It provides a comprehensive framework for energy procurement, covering technical, commercial, and regulatory aspects specific to the Irish market. The agreement typically includes detailed provisions for energy pricing, delivery obligations, market participation rules, and compliance with Irish and EU energy regulations. Corporate PPAs are particularly relevant in the context of Ireland's Single Electricity Market (SEM) and are structured to accommodate both physical and financial settlement mechanisms.
Suggested Sections

1. Parties: Identification of the corporate buyer and the power generator/seller

2. Background: Context of the agreement, including facility details and parties' objectives

3. Definitions and Interpretation: Detailed definitions of technical and legal terms used throughout the agreement

4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity

5. Term and Termination: Duration of the agreement and termination provisions

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

7. Metering and Settlement: Requirements for measuring electricity delivery and settlement processes

8. Generation Facility: Specifications and requirements for the power generation facility

9. Seller Obligations: Specific obligations of the generator including maintenance and operation

10. Buyer Obligations: Specific obligations of the corporate buyer

11. Force Majeure: Events excusing performance and their consequences

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

13. Representations and Warranties: Standard and specific warranties from both parties

14. Insurance: Required insurance coverage for both parties

15. Dispute Resolution: Procedures for resolving disputes under Irish law

16. Confidentiality: Protection of confidential information

17. Governing Law and Jurisdiction: Confirmation of Irish law governance and jurisdiction

Optional Sections

1. Direct Agreements: Required when project financing is involved, establishing rights of finance parties

2. Green Certificates and Environmental Attributes: Include when trading of renewable energy certificates is part of the arrangement

3. Performance Security: Include when either party requires security for performance obligations

4. Change Control: Include for long-term PPAs where technical specifications might need future updates

5. Market Interface: Required when the PPA involves direct participation in the SEM

6. Forecasting and Scheduling: Include for projects requiring detailed production forecasting

7. Buy-Out Options: Include when early termination or purchase options are contemplated

8. Grid Connection Interface: Required when the corporate buyer has specific grid connection responsibilities

Suggested Schedules

1. Facility Technical Specification: Detailed technical specifications of the generation facility

2. Testing and Commissioning Procedures: Procedures for facility testing and commercial operation date

3. Pricing Mechanism and Calculations: Detailed pricing formulae and worked examples

4. Operating Parameters: Technical parameters for facility operation

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

6. Form of Direct Agreement: Standard form of direct agreement with financiers

7. Performance Security Requirements: Forms and requirements for any required security

8. Production Forecasting Requirements: Procedures and requirements for generation forecasting

9. Grid Connection Details: Technical specifications of grid connection

10. Form of Notices: Standard forms for various notices under the agreement

11. Annual Contract Quantity: Specified annual electricity quantities and minimum/maximum tolerances

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Actual Generated Output
Annual Contract Quantity
Availability
Balancing Market
Billing Period
Business Day
Change in Law
Commercial Operation Date
Commissioned
Connection Agreement
Contract Price
Deemed Generated Output
Delivery Point
Effective Date
EirGrid
Electricity
Environmental Attributes
Event of Default
Facility
Force Majeure Event
Forward Price
Generator License
Good Industry Practice
Governmental Authority
Grid
Grid Code
Grid Connection
Grid Operator
Guaranteed Energy Output
Initial Period
Insolvency Event
Interconnectors
Licensed Supplier
Market Operator
Market Rules
Metering Equipment
Minimum Acceptance Level
Operating Parameters
Planned Maintenance
Performance Security
Point of Connection
Production Forecast
Project
Project Agreements
Prudent Operating Practice
Reactive Power
Renewable Energy Certificates
Renewable Energy Source
RESS
SEM
Settlement Period
Supply Period
System Operator
Target Commercial Operation Date
Technical Specifications
Term
Termination Payment
Trading Period
Transmission System
Unit Price
Clauses
Definitions
Interpretation
Sale and Purchase
Term and Termination
Conditions Precedent
Delivery Obligations
Metering
Price and Payment
Invoicing
Performance Security
Force Majeure
Change in Law
Representations and Warranties
Covenants
Events of Default
Early Termination
Liability and Indemnity
Insurance
Assignment and Transfer
Market Interface
Grid Connection
Environmental Attributes
Generation Forecasting
Testing and Commissioning
Operation and Maintenance
Facility Construction
Records and Reporting
Confidentiality
Dispute Resolution
Governing Law
Notices
Amendments
Anti-Corruption
Data Protection
Survival
Announcements
Third Party Rights
Entire Agreement
Waiver
Severability
Relevant Industries

Renewable Energy

Manufacturing

Technology

Data Centers

Retail

Pharmaceuticals

Food and Beverage

Banking and Finance

Telecommunications

Industrial Processing

Real Estate

Relevant Teams

Legal

Procurement

Sustainability

Finance

Risk Management

Operations

Environmental Compliance

Energy Trading

Corporate Development

Facilities Management

Relevant Roles

Chief Sustainability Officer

Energy Procurement Manager

Legal Counsel

Commercial Director

Sustainability Manager

Chief Financial Officer

Risk Manager

Operations Director

Procurement Director

Environmental Compliance Manager

Energy Trading Manager

Project Finance Manager

Corporate Development Director

Facilities Manager

Renewable Energy Director

Industries
Electricity Regulation Act 1999: Primary legislation governing the electricity sector in Ireland, including licensing requirements for electricity generation and supply
EU Renewable Energy Directive (2018/2001/EU): European framework for renewable energy promotion and development, implemented in Irish law, affecting renewable energy PPAs
Companies Act 2014: Irish corporate law framework governing business entities and commercial contracts
Energy (Miscellaneous Provisions) Act 2006: Additional regulations affecting energy agreements and market operations in Ireland
Single Electricity Market (SEM) Trading and Settlement Code: Rules governing electricity trading in the all-island market between Ireland and Northern Ireland
Planning and Development Act 2000: Regulations affecting the development and operation of power generation facilities
European Communities (Internal Market in Electricity) Regulations 2000: Irish implementation of EU electricity market rules affecting power purchase agreements
Climate Action and Low Carbon Development Acts 2015-2021: Framework for Ireland's transition to a climate neutral economy, affecting renewable energy contracts
Renewable Electricity Support Scheme (RESS): Government support mechanism for renewable electricity projects that may affect PPA structures
Competition Act 2002: Legislation ensuring fair competition in commercial agreements, including energy contracts
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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