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Corporate Power Purchase Agreement

Corporate Power Purchase Agreement Template for Austria

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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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Document background
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.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
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
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
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

Industries
Austrian Civil Code (ABGB): The fundamental source of Austrian private law governing contract formation, validity, and general contractual obligations
Austrian Commercial Code (UGB): Regulates commercial transactions between businesses and contains specific provisions relevant for B2B contracts
Austrian Electricity Industry and Organisation Act (ElWOG): Main legislation governing the electricity sector, including market rules, grid operation, and supply
Green Electricity Act (Ökostromgesetz): Regulates renewable energy production, feed-in tariffs, and support schemes for renewable energy
EU Renewable Energy Directive (RED II): European framework for promoting renewable energy use and establishing sustainability criteria
EU Internal Electricity Market Directive: Establishes common rules for generation, transmission, distribution, and supply of electricity in the EU
Austrian Energy Control Act (E-ControlG): Establishes the regulatory framework for the energy market and defines the powers of the national regulatory authority
Austrian Cartel Act (Kartellgesetz): Contains competition law provisions relevant for long-term power purchase agreements
Grid Access Regulation (Netzzugangsverordnung): Regulates technical and organizational conditions for access to the power grid
Austrian Data Protection Act (DSG): Governs the handling of personal and commercial data in business relationships
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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