The Corporate Power Purchase Agreement is a crucial document for organizations seeking to secure long-term electricity supply while supporting renewable energy development in Austria. It establishes the commercial and technical framework for direct power purchase between generators and corporate consumers, typically running for 10-15 years. The document must comply with Austrian energy law, including the Electricity Industry and Organisation Act (ElWOG) and Green Electricity Act, as well as relevant EU directives. It's particularly important for companies with sustainability goals, as it often includes provisions for green certificates and environmental attributes. The agreement covers essential elements such as delivery obligations, pricing mechanisms, risk allocation, and operational requirements, while accounting for Austrian grid regulations and market rules.
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Key Requirements PROMPT example:
Corporate Power Purchase Agreement
"I need an Austrian-law Corporate Power Purchase Agreement for a 15-year term starting March 2025, where my manufacturing company will purchase 50MW of wind power annually from a new wind farm in Burgenland, with guaranteed minimum output provisions and sustainability reporting requirements."
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1. Parties: Identification and details of the contracting parties (Generator/Seller and Corporate Buyer)
2. Background: Context of the agreement, including facility details and parties' objectives
3. Definitions: Defined terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding electricity supply and purchase, including volume commitments
5. Term and Termination: Duration of the agreement, conditions for extension, and termination rights
6. Price and Payment: Pricing structure, payment terms, invoicing, and settlement procedures
7. Metering and Documentation: Requirements for measuring and recording electricity delivery
8. Delivery Point and Risk Transfer: Specification of where electricity is delivered and risk/title passes
9. Generation Facility: Specifications and requirements for the power generation facility
10. Representations and Warranties: Standard and specific warranties from both parties
11. Force Majeure: Definition and consequences of force majeure events
12. Change in Law: Procedures for handling regulatory changes affecting the agreement
13. Liability and Indemnification: Allocation of risks and liability between parties
14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
15. Confidentiality: Protection of confidential information
16. Miscellaneous: Standard boilerplate provisions including notices, amendments, and assignment
1. Green Certificates and Environmental Benefits: Provisions regarding renewable energy certificates and environmental attributes, used when specifically trading these attributes
2. Grid Connection and Transmission: Detailed provisions about grid responsibilities, included when grid connection is part of the seller's scope
3. Development and Construction: Include for projects not yet operational, covering construction milestones and requirements
4. Credit Support: Requirements for guarantees or other credit support, included for parties requiring additional security
5. Insurance: Specific insurance requirements, included when standard insurance provisions need enhancement
6. Forecasting and Scheduling: Detailed provisions about power generation forecasting, included for variable renewable sources
7. Performance Guarantees: Specific performance metrics and remedies, included when guaranteed output levels are required
1. Schedule 1 - Facility Description: Technical specifications of the generation facility
2. Schedule 2 - Pricing Mechanism: Detailed pricing calculations and adjustments
3. Schedule 3 - Testing and Commissioning: Procedures for facility testing and commissioning
4. Schedule 4 - Operating Parameters: Technical and operational requirements
5. Schedule 5 - Metering Specifications: Technical requirements for metering equipment and procedures
6. Schedule 6 - Form of Direct Agreement: Standard form of direct agreement with financiers
7. Schedule 7 - Notices: Contact details and notice requirements
8. Schedule 8 - Generation Forecasting: Procedures and requirements for generation forecasting
9. Appendix A - Form of Guarantee: Template for any required parent company or bank guarantees
10. Appendix B - Insurance Requirements: Detailed insurance specifications and requirements
Authors
Relevant legal definitions
Actual Generation
Affiliate
Agreement
Annual Contract Quantity
Applicable Law
Austrian Market Rules
Availability
Balancing Group
Banking Day
Base Load
Billing Period
Business Day
Change in Law
Commercial Operation Date
Commissioning
Competent Authority
Contract Price
Contract Year
Control
Credit Support
Curtailment
Delivery Point
Delivery Schedule
Development Period
Direct Agreement
Dispute
E-Control
Effective Date
Electricity
Emergency
Environmental Attributes
Event of Default
Expected Generation
Facility
Force Majeure Event
Generation License
Good Industry Practice
Governing Law
Grid
Grid Connection Agreement
Grid Connection Point
Grid Operator
Guaranteed Commercial Operation Date
Guaranteed Output
Initial Period
Insolvency Event
Installation
Interconnection Facilities
Interest Rate
Lenders
Maintenance Schedule
Market Price
Material Adverse Effect
Metering Device
Minimum Quantity
Network Loss Factor
Operating Parameters
Operational Security
Outage
Peak Hours
Performance Security
Planned Maintenance
Project
Project Documents
Prudent Operating Practice
Purchase Obligation
Reactive Power
Renewable Energy Certificates
Replacement Power
Required Permits
Scheduled Maintenance
Security Interest
Seller's Facilities
Settlement Period
Start Date
System Emergency
Take-or-Pay Obligation
Technical Specifications
Term
Termination Date
Testing Period
Transmission System
Unit Price
VAT
Affiliate
Agreement
Annual Contract Quantity
Applicable Law
Austrian Market Rules
Availability
Balancing Group
Banking Day
Base Load
Billing Period
Business Day
Change in Law
Commercial Operation Date
Commissioning
Competent Authority
Contract Price
Contract Year
Control
Credit Support
Curtailment
Delivery Point
Delivery Schedule
Development Period
Direct Agreement
Dispute
E-Control
Effective Date
Electricity
Emergency
Environmental Attributes
Event of Default
Expected Generation
Facility
Force Majeure Event
Generation License
Good Industry Practice
Governing Law
Grid
Grid Connection Agreement
Grid Connection Point
Grid Operator
Guaranteed Commercial Operation Date
Guaranteed Output
Initial Period
Insolvency Event
Installation
Interconnection Facilities
Interest Rate
Lenders
Maintenance Schedule
Market Price
Material Adverse Effect
Metering Device
Minimum Quantity
Network Loss Factor
Operating Parameters
Operational Security
Outage
Peak Hours
Performance Security
Planned Maintenance
Project
Project Documents
Prudent Operating Practice
Purchase Obligation
Reactive Power
Renewable Energy Certificates
Replacement Power
Required Permits
Scheduled Maintenance
Security Interest
Seller's Facilities
Settlement Period
Start Date
System Emergency
Take-or-Pay Obligation
Technical Specifications
Term
Termination Date
Testing Period
Transmission System
Unit Price
VAT
Clauses
Parties
Recitals
Definitions
Sale and Purchase
Delivery
Term
Price and Payment
Metering
Title and Risk
Generation Facility
Grid Connection
Testing and Commissioning
Performance Standards
Maintenance
Force Majeure
Change in Law
Representations and Warranties
Covenants
Environmental Attributes
Credit Support
Insurance
Default
Termination
Liability and Indemnification
Assignment
Confidentiality
Dispute Resolution
Governing Law
Notices
Anti-Corruption
Data Protection
Taxes
Boilerplate
Forecasting
Scheduling
Balancing
Sustainability
Reporting
Audit Rights
Intellectual Property
Health and Safety
Recitals
Definitions
Sale and Purchase
Delivery
Term
Price and Payment
Metering
Title and Risk
Generation Facility
Grid Connection
Testing and Commissioning
Performance Standards
Maintenance
Force Majeure
Change in Law
Representations and Warranties
Covenants
Environmental Attributes
Credit Support
Insurance
Default
Termination
Liability and Indemnification
Assignment
Confidentiality
Dispute Resolution
Governing Law
Notices
Anti-Corruption
Data Protection
Taxes
Boilerplate
Forecasting
Scheduling
Balancing
Sustainability
Reporting
Audit Rights
Intellectual Property
Health and Safety
Relevant Industries
Energy & Utilities
Renewable Energy
Manufacturing
Industrial Production
Technology & Data Centers
Real Estate & Construction
Financial Services
Agriculture & Food Processing
Mining & Materials
Retail & Consumer Goods
Relevant Teams
Legal
Procurement
Sustainability
Finance
Risk Management
Operations
Environmental Compliance
Energy Trading
Project Development
Technical Operations
Corporate Strategy
Facilities Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Energy Procurement Manager
Sustainability Director
Legal Counsel
Contract Manager
Risk Manager
Technical Director
Operations Manager
Commercial Director
Environmental Compliance Officer
Energy Trading Manager
Project Finance Manager
Facility Manager
Corporate Strategy Director
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