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Green Power Purchase Agreement

Green Power Purchase Agreement Template for New Zealand

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Key Requirements PROMPT example:

Green Power Purchase Agreement

"I need a Green Power Purchase Agreement for a 50MW solar facility in Auckland, New Zealand, with delivery starting January 2025, including specific provisions for carbon credit sharing and curtailment rights."

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Document background
The Green Power Purchase Agreement (Green PPA) is a crucial commercial instrument in New Zealand's renewable energy market, designed to facilitate direct procurement of renewable electricity between generators and corporate buyers. This document becomes relevant when organizations seek to secure long-term renewable energy supply, demonstrate environmental commitment, or meet sustainability targets. It specifically addresses the unique aspects of New Zealand's electricity market, including compliance with the Electricity Industry Act 2010, the Climate Change Response Act 2002, and the country's emissions trading scheme. The agreement covers essential elements such as energy pricing, delivery terms, environmental attributes, and performance standards, while incorporating specific provisions for renewable energy certificates and carbon credits. This template is particularly valuable for organizations implementing sustainable energy strategies or developing new renewable energy projects in New Zealand.
Suggested Sections

1. Parties: Identification of the power generator/seller and the buyer/offtaker, including registration details and addresses

2. Background: Context of the agreement, including facility details and parties' intentions regarding green power purchase

3. Definitions: Defined terms including technical specifications, green attributes, and market-specific terminology

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

5. Term and Termination: Duration of the agreement, conditions for renewal, and termination rights

6. Price and Payment: Pricing structure, payment terms, and adjustments mechanisms

7. Metering and Reporting: Requirements for measuring electricity delivery and environmental attributes

8. Green Energy Certificates: Treatment of renewable energy certificates and environmental attributes

9. Title and Risk: Transfer of ownership and risk allocation between parties

10. Force Majeure: Events excusing performance and associated procedures

11. Default and Remedies: Events of default, cure periods, and available remedies

12. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law

13. Confidentiality: Protection of confidential information and permitted disclosures

14. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. Development and Construction: For new facilities, includes construction milestones and requirements - used when facility is not yet operational

2. Credit Support: Requirements for performance security or parent guarantees - used for parties with credit risk concerns

3. Change in Law: Mechanisms to address regulatory changes - used in longer-term PPAs or jurisdictions with evolving renewable energy regulations

4. Grid Connection: Responsibilities for grid connection and compliance - used when grid connection terms need specific attention

5. Insurance: Specific insurance requirements - used for larger projects or when required by financiers

6. Curtailment: Terms for reducing or interrupting supply - used in markets with grid constraints or specific operational requirements

7. Carbon Credits: Allocation of carbon credits or offsets - used when parties wish to specifically address carbon market benefits

Suggested Schedules

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

2. Testing and Commissioning: Procedures for facility testing and performance verification

3. Pricing Mechanism: Detailed pricing calculations, adjustments, and examples

4. Operating Parameters: Technical and operational requirements including availability and performance standards

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

6. Green Certificate Requirements: Detailed requirements for renewable energy certificates and reporting

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

8. Generation Forecasting: Requirements and procedures for production forecasting

9. Contact Details: List of key contacts and authorized representatives for both parties

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
Agreed Annual Volume
Availability
Billing Period
Business Day
Carbon Credits
Change in Law
Commencement Date
Commercial Operation Date
Contract Price
Contract Year
Curtailment
Deemed Generation
Delivery Point
Dispatch
Electricity
Environmental Attributes
Facility
Force Majeure Event
Generation Forecast
Green Attributes
Grid
Grid Connection Point
Guaranteed Environmental Attributes
Guaranteed Output
Interconnection Agreement
Loss Factor
Market Operator
Metering Data
Metering Equipment
Minimum Performance Requirements
Network Charges
Operating Parameters
Planned Maintenance
Point of Connection
Production Guarantee
Prudent Operating Practice
Renewable Energy Certificates
Renewable Energy Source
Required Consents
Scheduled Maintenance
Security Interest
Settlement Period
System Operator
Term
Termination Date
Test Period
Trading Period
Transmission System
Unit of Electricity
Clauses
Interpretation
Sale and Purchase
Term
Conditions Precedent
Development and Construction
Testing and Commissioning
Delivery Obligations
Environmental Attributes
Metering
Price and Payment
Invoicing
Performance Security
Title and Risk
Force Majeure
Representations and Warranties
Insurance
Default and Termination
Liability and Indemnity
Change in Law
Assignment
Confidentiality
Dispute Resolution
Notices
Governing Law
Performance Standards
Grid Connection
Maintenance
Reporting Requirements
Compliance
Curtailment Rights
Carbon Credits
Credit Support
General Provisions
Relevant Industries

Renewable Energy

Power Generation

Utilities

Manufacturing

Data Centers

Mining

Retail

Commercial Real Estate

Industrial

Agriculture

Technology

Financial Services

Telecommunications

Relevant Teams

Legal

Procurement

Sustainability

Operations

Finance

Risk Management

Compliance

Environmental

Commercial

Energy Trading

Project Development

Facilities Management

Relevant Roles

Sustainability Manager

Energy Procurement Manager

Legal Counsel

Commercial Manager

Environmental Compliance Officer

Chief Sustainability Officer

Power Trading Manager

Renewable Energy Developer

Risk Manager

Contract Manager

Chief Financial Officer

Facilities Manager

Operations Director

Project Manager

Environmental, Social and Governance (ESG) Director

Industries
Electricity Industry Act 2010: Primary legislation governing New Zealand's electricity industry, including market operation, regulation of industry participants, and oversight of supply agreements
Resource Management Act 1991: Environmental legislation relevant for renewable energy generation facilities and environmental impact assessments
Contract and Commercial Law Act 2017: Governs formation and enforcement of commercial contracts in New Zealand, including PPAs
Fair Trading Act 1986: Ensures fair trading practices and consumer protection in commercial relationships
Climate Change Response Act 2002: Includes the New Zealand Emissions Trading Scheme framework, relevant for renewable energy certificates and carbon credits
Electricity Industry Participation Code 2010: Details specific rules and regulations for electricity market participants, including requirements for power purchase agreements
Commerce Act 1986: Regulates competition in the electricity market and prevents anti-competitive behavior in commercial agreements
Consumer Guarantees Act 1993: May apply if the PPA involves supply to residential or small business consumers
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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