Document background
This Virtual Power Purchase Agreement template is designed for use in corporate renewable energy procurement in India, where organizations seek to support renewable energy development while managing electricity costs and meeting sustainability goals. The agreement enables corporate buyers to provide revenue certainty to renewable energy projects through a financial settlement mechanism, without requiring physical delivery of electricity. It incorporates requirements from Indian electricity regulations, renewable energy policies, and financial markets legislation. Particularly suitable for large corporate consumers looking to make long-term commitments to renewable energy, this document addresses key aspects such as settlement mechanisms, environmental attributes, regulatory compliance, and risk allocation. The template is structured to accommodate the specific characteristics of the Indian power market, including grid integration requirements and renewable energy certificate mechanisms.
