This Power Purchase Agreement Solar template is designed for use in New Zealand when establishing long-term electricity supply arrangements between solar power generators and electricity purchasers. It is particularly relevant for commercial and industrial consumers seeking to secure renewable energy supply, as well as for solar developers establishing new generation projects. The document incorporates requirements from New Zealand's electricity regulatory framework, including the Electricity Industry Act 2010 and the Electricity Industry Participation Code. It provides comprehensive coverage of essential elements such as pricing structures, operational requirements, regulatory compliance, and risk allocation, while allowing flexibility to accommodate various project sizes and configurations. The agreement can be adapted for both behind-the-meter installations and grid-connected facilities, making it suitable for diverse commercial arrangements in the New Zealand energy market.
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1. Parties: Identification of the Generator (solar power provider) and the Purchaser, including full legal names and addresses
2. Background: Context of the agreement, including brief description of the solar facility and the parties' intentions
3. Definitions: Detailed definitions of technical, commercial, and legal terms used throughout the agreement
4. Term and Termination: Duration of the agreement, conditions for renewal, and circumstances allowing early termination
5. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including minimum purchase obligations
6. Facility Requirements: Technical specifications and requirements for the solar facility, including capacity and location
7. Metering and Measurement: Requirements for measuring electricity generation and consumption
8. Price and Payment: Pricing structure, payment terms, billing procedures, and dispute resolution for payments
9. Operating Requirements: Operational standards, maintenance obligations, and performance guarantees
10. Force Majeure: Events constituting force majeure and their consequences
11. Insurance and Liability: Insurance requirements and allocation of risks between parties
12. Assignment and Change of Control: Conditions under which the agreement can be assigned or transferred
13. Disputes: Process for resolving disputes between parties
14. General Provisions: Standard legal provisions including notices, governing law, and entire agreement
1. Environmental Attributes: Terms regarding carbon credits and other environmental benefits - include when these are being separately traded
2. Grid Connection: Include when the facility requires new or modified grid connection arrangements
3. Construction and Commissioning: Include for new facilities that are yet to be built
4. Purchase Option: Include when the purchaser has the option to buy the facility
5. Land Rights: Include when the facility is located on the purchaser's property or requires specific land access rights
6. Battery Storage: Include when the facility includes battery storage systems
7. Performance Guarantees: Include when specific output or availability guarantees are required
1. Facility Description: Technical specifications of the solar facility including location, capacity, and equipment details
2. Pricing Schedule: Detailed pricing mechanisms, rates, and adjustment formulae
3. Operating Parameters: Technical parameters, performance standards, and measurement protocols
4. Metering Specifications: Detailed requirements for metering equipment and procedures
5. Key Milestones: Construction and commissioning milestones (for new facilities)
6. Form of Performance Security: Template for any required performance bonds or guarantees
7. Insurance Requirements: Detailed specifications of required insurance coverage
8. Site Plan: Drawings and specifications of the facility location and layout
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