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Corporate Power Purchase Agreement
"I need a Corporate Power Purchase Agreement for my tech company to purchase 100MW of solar power from a new facility in Texas, with delivery starting in March 2025 and including provisions for both physical delivery and virtual settlement."
1. Parties: Identification of the power seller and buyer, including full legal names and addresses
2. Background: Context of the agreement, basic transaction structure, and key commercial drivers
3. Definitions: Comprehensive list of defined terms used throughout the agreement
4. Sale and Purchase Obligations: Core commercial terms including volume commitments, price structure, and delivery points
5. Term and Termination: Duration of agreement, conditions precedent, and termination rights
6. Payment Terms: Billing cycles, invoicing requirements, payment timing, and dispute resolution
7. Force Majeure: Events excusing performance and related notification requirements
8. Representations and Warranties: Standard and transaction-specific representations by both parties
9. Credit Support: Security requirements, guarantees, and credit-related provisions
10. Events of Default: Default triggers and remedies available to non-defaulting party
1. Environmental Attributes: Treatment of RECs and other environmental benefits, used when renewable energy attributes are part of the transaction
2. Development Milestones: Project development timeline and requirements, included for new build projects
3. Storage Provisions: Terms relating to energy storage facilities and operations, used when battery storage is included
4. Curtailment: Rules and compensation for curtailment events, included when relevant to the project type
5. Change in Law: Allocation of risks related to regulatory changes, used in long-term agreements
1. Schedule A - Facility Description: Technical details of the generating facility including location, capacity, and technology type
2. Schedule B - Product Specifications: Detailed description of energy products, pricing formulas, and settlement procedures
3. Schedule C - Operating Procedures: Day-to-day operational requirements, scheduling, and communication protocols
4. Schedule D - Form of Guaranty: Template for any required financial guarantees or credit support documents
5. Schedule E - Metering Requirements: Technical specifications for metering equipment and data collection
6. Schedule F - Expected Generation Profile: Projected energy output profile and performance guarantees if applicable
Authors
As-Generated Energy
Available Capacity
Bankruptcy Event
Base Rate
Billing Period
Business Day
Capacity Rights
Commercial Operation Date
Contract Price
Contract Quantity
Contract Year
Credit Rating
Delivery Point
Delivery Term
Environmental Attributes
Event of Default
Facility
FERC
Force Majeure Event
Generating Unit
Good Industry Practice
Governmental Authority
Guaranteed Commercial Operation Date
Guaranteed Energy Production
Interconnection Agreement
Interconnection Point
Law
Lender
Market Price
Metering Device
MW
MWh
Operating Procedures
Parallel Operation
Performance Security
Permits
Planned Outage
Point of Interconnection
Product
Project
Prudent Operating Practice
Qualified Assignee
Renewable Energy Credits (RECs)
Scheduling Coordinator
Security Interest
Settlement Amount
Settlement Period
System Emergency
Termination Payment
Transmission Provider
Transmission System
Delivery Terms
Pricing and Payment
Term and Termination
Force Majeure
Change in Law
Metering
Environmental Attributes
Performance Security
Credit Support
Default and Remedies
Representations and Warranties
Covenants
Confidentiality
Assignment
Dispute Resolution
Governing Law
Indemnification
Insurance
Taxes
Notices
Records and Audit Rights
Operation and Maintenance
Interconnection
Scheduling and Balancing
Title and Risk of Loss
Compliance with Laws
Change in Control
Events of Default
Limitation of Liability
Waiver and Amendment
Severability
Entire Agreement
Counterparts
Third Party Rights
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