The Corporate Power Purchase Agreement (CPPA) template is designed for use in the Belgian market, where corporations increasingly seek to secure long-term renewable energy supply directly from generators. This document type has become crucial as organizations pursue sustainability goals and stable energy pricing in Belgium's liberalized energy market. The agreement addresses specific requirements of Belgian federal law, regional energy regulations, and EU directives, while incorporating necessary provisions for grid access, renewable energy certificates, and regulatory compliance. It is particularly relevant for large corporate consumers looking to demonstrate additionality in renewable energy procurement and generators seeking project financing. The document includes comprehensive terms for energy delivery, price structures, risk allocation, and dispute resolution, tailored to Belgium's unique federal structure and its position within the EU energy market.
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1. Parties: Identification of the power seller (generator) and buyer (corporate customer), including full legal names and registration details
2. Background: Context of the agreement, including facility details and parties' objectives
3. Definitions and Interpretation: Comprehensive list of defined terms and interpretation rules
4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including any minimum purchase commitments
5. Term and Conditions Precedent: Duration of the agreement and conditions that must be satisfied before the agreement becomes effective
6. Delivery Point and Transfer of Risk: Specification of where electricity is delivered and when risk transfers between parties
7. Metering and Communications: Requirements for measuring delivered electricity and maintaining communications systems
8. Price and Payment Terms: Pricing structure, invoicing requirements, and payment terms
9. Credit Support: Security requirements and credit support mechanisms
10. Force Majeure: Definition of force majeure events and their consequences
11. Representations and Warranties: Standard and specific warranties given by each party
12. Covenants: Ongoing obligations of the parties during the term
13. Events of Default: Circumstances constituting default and consequences
14. Termination: Termination rights and procedures
15. Liability and Indemnities: Allocation of risks and limitations on liability
16. Dispute Resolution: Procedures for resolving disputes
17. Confidentiality: Protection of confidential information
18. Governing Law and Jurisdiction: Specification of Belgian law and jurisdiction
19. Miscellaneous: Standard boilerplate provisions
1. Change in Law: Provisions addressing the impact of regulatory changes, particularly relevant for long-term CPPAs in the evolving EU energy market
2. Green Certificates and Guarantees of Origin: Required when the corporate buyer wants to claim renewable energy attributes
3. Buy-Out Rights: Optional provisions allowing early termination with agreed compensation
4. Grid Connection Interface: Needed when the agreement requires specific arrangements regarding grid connection
5. Volume Flexibility: Optional mechanisms for adjusting purchase volumes
6. Direct Agreements: Required when project financing is involved
7. Construction and Commissioning: Needed for PPAs signed before facility completion
8. Insurance: Detailed insurance requirements, if not covered in general covenants
1. Facility Description: Technical specifications of the generation facility
2. Pricing Methodology: Detailed pricing calculations and adjustments
3. Testing and Commissioning Procedures: Technical requirements for facility testing
4. Operating Parameters: Technical and operational specifications
5. Metering Specifications: Technical requirements for metering systems
6. Form of Direct Agreement: Standard form for lender direct agreements
7. Communication Protocols: Procedures for operational communications
8. Performance Security: Forms of required security instruments
9. Insurance Requirements: Detailed specification of required insurance coverage
10. Form of Guarantees: Standard forms for any required parent company or performance guarantees
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