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Power Purchase Contract
"I need a Power Purchase Contract for a 50MW solar facility in Texas, where we'll be selling electricity to a corporate buyer with a 15-year term starting March 2025, including provisions for renewable energy credits and storage capabilities."
1. Parties: Identification of the power seller and purchaser with full legal details
2. Background: Context of the agreement and brief description of the project
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding power delivery and purchase
5. Price and Payment Terms: Pricing structure, billing, and payment procedures
6. Term and Termination: Duration of agreement and termination rights
7. Performance Security: Credit support and security requirements
8. Metering and Testing: Requirements for measuring delivered power
1. Green Attributes: Treatment of renewable energy credits and environmental attributes - used for renewable energy projects
2. Capacity Rights: Treatment of capacity rights and related products - used when capacity markets are relevant
3. Development Milestones: Project development timeline and requirements - used for projects not yet operational
1. Facility Description: Technical details of the generating facility
2. Product Specifications: Detailed power product specifications including quantity and quality
3. Pricing Schedule: Detailed pricing calculations and adjustments
4. Operating Procedures: Detailed procedures for day-to-day operations
5. Form of Performance Security: Template for required security instruments
6. Metering Specifications: Technical requirements for metering equipment
Authors
Annual Contract Quantity
Available Capacity
Billing Period
Business Day
Capacity
Commercial Operation Date
Contract Price
Contract Year
Defaulting Party
Delivery Point
Dispatch
Effective Date
Electrical Interconnection Point
Energy
Environmental Attributes
Event of Default
Facility
Force Majeure
Good Industry Practice
Governmental Authority
Grid
Interconnection Agreement
kW
kWh
Law
Lender
Maintenance Outage
Metering Device
MW
MWh
Net Output
Operating Parameters
Operating Year
Performance Security
Point of Delivery
Project
Prudent Operating Practice
Renewable Energy Credits
Scheduled Maintenance
Security Interest
Seller's Facility
System Emergency
Term
Transmission Provider
Transmission System
Pricing and Payment
Term and Termination
Metering
Interconnection
Performance Security
Force Majeure
Events of Default
Remedies
Representations and Warranties
Operating Requirements
Scheduling and Dispatch
Environmental Attributes
Change in Law
Insurance
Indemnification
Limitation of Liability
Assignment
Confidentiality
Dispute Resolution
Governing Law
Notices
Records and Auditing
Credit Support
Transmission
Maintenance
Testing
Compliance with Laws
Taxes
Title and Risk of Loss
Curtailment
Performance Guarantees
Reporting Requirements
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