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Contract For Differences Ppa
"I need a Contract for Differences PPA for a 50MW offshore wind farm in the North Sea, with LCCC as counterparty and commissioning date of March 2025, including specific provisions for intermittent generation and grid connection requirements."
1. 1. Parties: Identification of contracting parties and their legal status
2. 2. Background: Context of the agreement and relationship between parties
3. 3. Definitions: Key terms used throughout the agreement
4. 4. Term and Duration: Contract period and renewal provisions
5. 5. Payment Mechanism: Strike price, reference price, and difference payments calculation
6. 6. Metering Requirements: Specifications for measuring electricity generation
7. 7. Generator Obligations: Core obligations of the generating party
8. 8. Buyer Obligations: Core obligations of the purchasing party
9. 9. Default and Termination: Events of default and termination procedures
1. Change in Law Provisions: Additional clauses addressing the impact of regulatory changes, typically included for longer-term contracts or high-value installations
2. Force Majeure: Provisions dealing with unforeseeable circumstances preventing contract performance, included when requested by parties or for higher-risk projects
3. Direct Agreement Rights: Clauses establishing lender step-in rights, included when project financing is involved
1. Schedule 1: Facility Description: Technical specifications of the generating facility
2. Schedule 2: Testing Procedures: Commissioning and testing requirements
3. Schedule 3: Calculation Methodology: Detailed payment calculations and examples
4. Schedule 4: Form of Direct Agreement: Standard form agreement for lenders
5. Appendix A: Metering Specifications: Detailed technical requirements for metering
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