A Physical Power Purchase Agreement (PPA) is used when a power generator agrees to physically supply electricity to a buyer under Austrian law. This document is essential for businesses seeking to secure long-term electricity supply or for generators looking to ensure steady revenue streams. The agreement must navigate both Austrian national regulations (particularly the ElWOG 2010) and EU energy directives, making it a complex instrument that requires careful consideration of technical, commercial, and regulatory requirements. It's particularly relevant in the context of renewable energy projects, industrial power supply arrangements, and corporate energy procurement strategies. The document typically includes detailed provisions for physical delivery points, volume commitments, pricing mechanisms, grid access, balancing responsibilities, and regulatory compliance measures specific to the Austrian electricity market.
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1. Parties: Identification of the contracting parties - generator/seller and buyer
2. Background: Context of the agreement, including facility description and purpose of the PPA
3. Definitions: Defined terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including delivery points and volumes
5. Term and Termination: Duration of the agreement and termination rights
6. Delivery Specifications: Technical requirements for power delivery, including scheduling and balancing requirements
7. Metering and Documentation: Requirements for measuring and recording electricity delivery
8. Price and Payment Terms: Pricing structure, invoicing, and payment procedures
9. Grid Connection and Access: Responsibilities regarding grid connection and access
10. Regulatory Compliance: Obligations to comply with relevant laws and regulations
11. Force Majeure: Events excusing performance and related procedures
12. Representations and Warranties: Standard legal assurances from both parties
13. Default and Remedies: Events of default and available remedies
14. Liability and Indemnification: Allocation of risks and responsibilities
15. Dispute Resolution: Procedures for resolving disputes
16. Governing Law: Specification of Austrian law as governing law
17. Miscellaneous: Standard boilerplate provisions
1. Construction and Commissioning: Required if the generating facility is not yet operational, covering construction milestones and requirements
2. Green Certificates and Environmental Attributes: Required if the agreement includes transfer of environmental attributes or certificates
3. Credit Support: Required if either party must provide financial security
4. Change in Law: Detailed provisions for handling regulatory changes, particularly important for long-term PPAs
5. Insurance: Specific insurance requirements beyond standard coverage
6. Forecasting and Scheduling: Detailed provisions for production forecasting, particularly relevant for renewable energy facilities
7. Performance Guarantees: Required if specific performance levels are guaranteed
8. Direct Agreement: Required if lender rights need to be addressed
9. Curtailment: Required for renewable energy facilities where output might need to be reduced
1. Facility Description: Technical specifications of the generating facility
2. Testing and Commissioning Procedures: Detailed procedures for facility testing and commissioning
3. Metering Specifications: Technical requirements for metering equipment and procedures
4. Operating Procedures: Detailed operational requirements and procedures
5. Pricing Mechanism: Detailed pricing calculations and adjustments
6. Form of Guarantees: Templates for any required guarantees or security
7. Grid Connection Details: Technical specifications for grid connection
8. Production Profile: Expected generation profile and any guarantees
9. Communication Protocols: Procedures for operational communications between parties
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