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Third Party Power Purchase Agreement
"I need a Third Party Power Purchase Agreement for a 50MW solar farm in Yorkshire, where we'll be selling power to a major tech company's data center through an established UK electricity supplier, with operations expected to start in March 2025."
1. Parties: Identification of all contracting parties including generator, buyer, and any intermediaries
2. Background: Context of the agreement, facility details, and purpose of the PPA
3. Definitions: Defined terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding electricity sale and purchase, including volume commitments
5. Price and Payment: Pricing mechanism, payment terms, invoicing, and disputes
6. Term and Termination: Duration of agreement and termination rights
7. Metering and Communications: Requirements for measuring and reporting electricity generation
8. Force Majeure: Events outside parties' control affecting performance
1. Green Certificates: Provisions for handling renewable energy certificates or guarantees of origin when dealing with renewable energy sources
2. Development Obligations: Construction and commissioning requirements for projects not yet operational
3. Credit Support: Security arrangements and credit requirements when credit risk management is needed
1. Facility Description: Technical specifications of the generation facility
2. Pricing Schedule: Detailed pricing mechanisms and calculations
3. Operating Parameters: Technical operating requirements and constraints
4. Form of Direct Agreement: Standard form for direct agreements with financiers
5. Metering Specifications: Technical requirements for metering equipment
6. Performance Requirements: Minimum performance standards and testing procedures
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