The Power Purchase Agreement Renewable (Energy) is a crucial document in Austria's renewable energy market, used to establish long-term electricity supply arrangements between renewable energy generators and commercial or utility buyers. This agreement type has gained significance due to Austria's commitment to renewable energy expansion and the implementation of the Renewable Energy Expansion Act (EAG). The document serves as the primary commercial instrument for renewable energy projects, providing bankable terms that support project financing while ensuring compliance with Austrian energy regulations and EU directives. It typically includes provisions for power delivery, pricing mechanisms, regulatory compliance, technical specifications, and risk allocation between parties. The agreement is particularly relevant in the context of Austria's energy transition goals and the increasing corporate demand for renewable electricity supply.
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1. Parties: Identification of the seller (generator) and buyer, including registration details and addresses
2. Background: Context of the agreement, including facility description and purpose of the PPA
3. Definitions and Interpretation: Defined terms, rules of interpretation, and references to applicable Austrian law
4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including delivery points and volume commitments
5. Term and Termination: Duration of the agreement, conditions for renewal, and termination rights
6. Price and Payment: Pricing structure, payment terms, invoicing, and dispute procedures
7. Metering and Documentation: Requirements for measuring delivered electricity and maintaining records
8. Grid Connection and Delivery: Requirements for grid connection, delivery points, and coordination with grid operator
9. Representations and Warranties: Standard and specific warranties regarding capacity, permits, and compliance
10. Force Majeure: Definition of force majeure events and consequences
11. Change in Law: Procedures for addressing regulatory changes affecting the agreement
12. Default and Remedies: Events of default, cure periods, and available remedies
13. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
14. Confidentiality: Protection of confidential information and permitted disclosures
15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Green Certificates and Environmental Attributes: Terms regarding renewable energy certificates and environmental benefits, used when certificates are part of the transaction
2. Construction and Commissioning: Include for new facilities not yet operational, covering construction milestones and requirements
3. Performance Guarantees: Technical performance guarantees and liquidated damages, used for projects requiring specific performance levels
4. Insurance: Specific insurance requirements beyond standard coverage, used for high-value or high-risk projects
5. Forecasting and Scheduling: Detailed procedures for production forecasting, used for variable renewable sources like wind or solar
6. Storage Provisions: Include when the facility includes energy storage capabilities
7. Curtailment: Terms regarding reduction of generation, used when grid constraints are likely
8. Credit Support: Requirements for guarantees or security, used for parties with limited credit history
1. Facility Description: Technical specifications of the generation facility
2. Testing and Commissioning Procedures: Detailed procedures for facility testing and commissioning
3. Operating Parameters: Technical parameters for facility operation
4. Metering Specifications: Technical requirements for metering equipment and procedures
5. Pricing Mechanism: Detailed pricing calculations and adjustments
6. Form of Direct Agreement: Standard form for direct agreements with lenders
7. Performance Standards: Detailed technical performance requirements
8. Contact Details: List of key contacts and authorized representatives
9. Form of Guarantees: Standard forms for any required guarantees
10. Grid Connection Details: Technical specifications for grid connection
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