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Power Sale Agreement

Power Sale Agreement Template for India

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Power Sale Agreement

Need a Power Sale Agreement for a 50MW solar power plant in Tamil Nadu, selling power to a tech company's data center, with operations starting March 2025 and including provisions for renewable energy certificates.

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Document background
The Power Sale Agreement (PSA) is a crucial document in India's power sector that establishes the legal and commercial framework for electricity trading between generators and purchasers. It is commonly used when power generating companies, including conventional and renewable energy producers, want to sell electricity to distribution companies, industrial consumers, or power trading companies. The agreement must comply with the Electricity Act 2003, relevant CERC and SERC regulations, and state-specific power sector policies. Key components include tariff structures, scheduling mechanisms, metering requirements, and operational procedures. This document is particularly important in the context of India's evolving power market and increasing focus on renewable energy integration.
Suggested Sections

1. Parties: Identification of the power seller and purchaser with complete details

2. Background: Context of the agreement, including details of power generation facility and purpose of the agreement

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Sale and Purchase Obligations: Core obligations regarding power supply and purchase commitments

5. Term and Termination: Duration of agreement, renewal terms, and termination conditions

6. Tariff and Payment Terms: Pricing structure, billing procedures, and payment obligations

7. Metering and Energy Accounting: Requirements for measuring and recording power supply

8. Scheduling and Dispatch: Procedures for scheduling power delivery and dispatch instructions

9. Force Majeure: Events constituting force majeure and consequent rights and obligations

10. Events of Default: Circumstances constituting default and remedies

11. Dispute Resolution: Procedures for resolving disputes between parties

12. Representations and Warranties: Standard declarations by both parties

13. Confidentiality: Protection of confidential information

14. Governing Law and Jurisdiction: Applicable law and jurisdiction for disputes

Optional Sections

1. Renewable Energy Obligations: Required when power is from renewable sources, covering renewable energy certificates and compliance

2. Change in Law: Needed for long-term agreements to address regulatory changes impact

3. Assignment and Transfer: Include when transfer rights are important for project financing

4. Insurance: Required when specific insurance obligations need to be imposed

5. Environmental Compliance: Necessary when environmental obligations need specific attention

6. Grid Connection: Required when grid connection responsibilities need clarification

7. Trading Licenses: Include when either party requires specific trading licenses

8. Security Package: Required when payment security mechanisms are needed

Suggested Schedules

1. Technical Specifications: Details of power plant, generation capacity, and technical parameters

2. Testing Procedures: Procedures for testing and commissioning

3. Tariff Schedule: Detailed breakdown of tariff components and calculations

4. Operating Procedures: Detailed procedures for day-to-day operations

5. Metering Specifications: Technical specifications for metering equipment

6. Communication Protocols: Procedures for operational communications

7. Performance Standards: Required performance levels and penalties

8. Interface Delivery Points: Specification of power delivery points

9. Forms of Notices: Standard forms for various notices under the agreement

10. Security Documents: Forms of payment security mechanisms

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 Delivered Energy
Agreement
Applicable Law
Availability
Billing Period
Business Day
CERC
Change in Law
Commercial Operation Date
Contracted Capacity
Control Center
Delivery Point
Dispatch Instructions
Due Date
Effective Date
Electricity Grid Code
Emergency
Energy Charge
Event of Default
Force Majeure Event
Good Industry Practice
Grid
Indian Governmental Instrumentality
Installed Capacity
Interconnection Facilities
Invoice
kV
kWh
Law
Letter of Credit
Metering Point
Metering System
Monthly Bill
MW
Operating Procedures
Party/Parties
Payment Security Mechanism
Peak Hours
Performance Standards
Point of Connection
Power Plant
Power Purchase Manager
Preliminary Default Notice
Prudent Utility Practices
Reactive Power
Scheduled Commercial Operation Date
Scheduled Delivery
SERC
State Grid Code
State Load Dispatch Center
System Emergency
Tariff
Technical Limits
Term
Termination Notice
Testing Period
Transmission Charges
Transmission System
Unit
Voltage
Clauses
Interpretation
Scope
Term and Duration
Supply Obligations
Purchase Obligations
Tariff and Payment
Billing and Settlement
Metering
Scheduling and Dispatch
Technical Requirements
Performance Standards
Grid Connection
Force Majeure
Change in Law
Default and Termination
Liability and Indemnification
Dispute Resolution
Confidentiality
Assignment
Notices
Governing Law
Representation and Warranties
Insurance
Security Arrangements
Testing and Commissioning
Operations and Maintenance
Emergency Procedures
Regulatory Compliance
Environmental Compliance
Records and Reporting
Intellectual Property
Anti-corruption
Amendments
Severability
Waiver
Entire Agreement
Relevant Industries

Energy & Utilities

Power Generation

Renewable Energy

Manufacturing

Industrial

Infrastructure

Mining

Commercial Real Estate

Data Centers

Heavy Industries

Relevant Teams

Legal

Commercial

Regulatory Affairs

Power Trading

Operations

Technical

Finance

Risk Management

Business Development

Compliance

Energy Management

Grid Operations

Contract Administration

Relevant Roles

Energy Trading Manager

Power Plant Manager

Legal Counsel

Regulatory Compliance Officer

Commercial Director

Chief Technical Officer

Power Purchase Manager

Grid Operations Manager

Business Development Director

Risk Manager

Contract Administrator

Energy Markets Analyst

Technical Due Diligence Manager

Chief Financial Officer

Operations Director

Industries
The Electricity Act, 2003: Primary legislation governing the generation, transmission, distribution, trading and use of electricity in India. Sets framework for power sector regulation, licensing, and market structure.
CERC (Terms and Conditions of Tariff) Regulations, 2019: Regulations determining tariff norms and structure for power generation and transmission companies
Indian Contract Act, 1872: Fundamental law governing contracts in India, covering formation, performance, and enforcement of contracts
Electricity Rules, 2005: Detailed rules implementing various provisions of the Electricity Act, including technical and safety standards
National Electricity Policy: Policy framework for electricity sector development and guidelines for power purchase agreements
CERC (Power Market) Regulations, 2021: Regulations governing power trading, market operations, and exchange of electricity
Environmental Protection Act, 1986: Environmental compliance requirements affecting power generation and distribution
Electricity (Rights of Consumers) Rules, 2020: Rules protecting consumer rights in electricity supply and distribution
National Tariff Policy: Guidelines for tariff setting and cost recovery in power sector
Renewable Energy Certificates Regulations: Framework for trading renewable energy certificates and compliance with renewable purchase obligations
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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