The Flexible Power Purchase Agreement (FPPA) is designed for use in the Dutch energy market where parties require adaptable power trading arrangements. This document is particularly relevant in scenarios involving renewable energy sources, where generation patterns may be variable, or for industrial consumers with fluctuating power needs. The agreement incorporates Dutch energy law requirements and EU regulations, while providing mechanisms for volume and price flexibility. It includes essential provisions for energy trading, balancing responsibilities, and risk allocation, making it suitable for both traditional and renewable energy generators, as well as commercial and industrial offtakers. The FPPA is especially valuable in the context of the Netherlands' energy transition goals and the increasing need for flexible power solutions in a market with growing renewable energy penetration.
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Key Requirements PROMPT example:
Flexible Power Purchase Agreement
"I need a Flexible Power Purchase Agreement under Dutch law for a solar farm operator selling to a data center operator, with daily volume flexibility of +/- 15% and a start date of March 1, 2025, including provisions for green certificates trading."
1. Parties: Identification of the seller (generator) and buyer (offtaker), including full legal names and addresses
2. Background: Context of the agreement, including facility details and parties' objectives
3. Definitions and Interpretation: Defined terms, rules of interpretation, and hierarchy of documents
4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including flexibility mechanisms
5. Term and Termination: Duration of agreement, conditions for renewal, and termination rights
6. Delivery Point and Transfer of Risk: Specification of the delivery point and allocation of risks related to electricity transfer
7. Metering and Documentation: Requirements for measuring delivered electricity and maintaining records
8. Pricing and Payment: Price structure, payment terms, and flexibility premium calculations
9. Scheduling and Nominations: Procedures for scheduling delivery and managing volume variations
10. Force Majeure: Definition of force majeure events and consequences
11. Representations and Warranties: Standard and specific warranties from both parties
12. Change in Law: Procedures for addressing regulatory changes affecting the agreement
13. Dispute Resolution: Procedures for resolving disputes between parties
14. Confidentiality: Obligations regarding confidential information
15. Governing Law and Jurisdiction: Specification of Dutch law and jurisdiction
1. Green Certificates and Environmental Attributes: Required if the agreement includes trading of renewable energy certificates or other environmental attributes
2. Credit Support: Include when either party requires financial security or parent company guarantees
3. Insurance: Detailed insurance requirements, if not covered in general representations
4. Trading Limits and Risk Management: Include for agreements with significant volume or price flexibility
5. Grid Connection and Curtailment: Required if specific grid connection terms or curtailment rights need to be addressed
6. Maintenance and Planned Outages: Include for agreements where facility maintenance impacts delivery obligations
7. Change of Control: Include when restrictions on ownership changes are required
8. ESG Requirements: Include when specific environmental, social, and governance requirements apply
1. Facility Description: Technical specifications of the generating facility
2. Pricing Mechanism: Detailed pricing formulas, including flexibility premiums and penalties
3. Volume Nomination Procedures: Detailed procedures for volume nominations and variations
4. Performance Security Calculations: Methodology for calculating required security amounts
5. Metering Specifications: Technical requirements for metering equipment and procedures
6. Communication Protocols: Procedures for operational communications and notifications
7. Form of Direct Agreement: Standard form for direct agreements with financiers
8. Product Specifications: Detailed specifications of the electricity products being traded
9. Operating Parameters: Technical parameters for facility operation and flexibility
10. Guarantee Forms: Templates for any required guarantees or security documents
Authors
Relevant legal definitions
Actual Delivered Volume
Adjustment Period
Affiliate
Availability
Balancing Mechanism
Banking Hours
Base Load
Billing Period
Business Day
Capacity
Change in Law
Commencement Date
Contract Price
Contract Volume
Credit Support
Curtailment
Day Ahead Market
Defaulting Party
Delivery Point
Delivery Schedule
Dutch Grid
Effective Date
Electricity
Emergency
Energy Management System
Environmental Attributes
Event of Default
Expected Generation
Facility
Flexibility Premium
Flexibility Parameters
Force Majeure
Generator
Good Industry Practice
Governmental Authority
Grid Code
Grid Connection
Grid Operator
Imbalance Charges
Initial Term
Insolvency Event
Interconnection Agreement
Law
Loading Point
Loss Factor
Market Price
Maximum Volume
Metering Device
Minimum Volume
Nomination
Offtaker
Operating Parameters
Planned Maintenance
Price Adjustment Mechanism
Program Responsible Party
Prudent Operating Practice
Ramp Rate
Reactive Power
Renewable Energy Certificates
Renewable Energy Source
Required Credit Rating
Scheduled Maintenance
Settlement Period
Shortfall
System Operator
Take-or-Pay Obligation
Target Volume
Technical Specifications
Term
Termination Date
Trading Interval
Trading Period
Transmission System
Variable Generation Source
Volume Flexibility Band
Volume Nomination
Adjustment Period
Affiliate
Availability
Balancing Mechanism
Banking Hours
Base Load
Billing Period
Business Day
Capacity
Change in Law
Commencement Date
Contract Price
Contract Volume
Credit Support
Curtailment
Day Ahead Market
Defaulting Party
Delivery Point
Delivery Schedule
Dutch Grid
Effective Date
Electricity
Emergency
Energy Management System
Environmental Attributes
Event of Default
Expected Generation
Facility
Flexibility Premium
Flexibility Parameters
Force Majeure
Generator
Good Industry Practice
Governmental Authority
Grid Code
Grid Connection
Grid Operator
Imbalance Charges
Initial Term
Insolvency Event
Interconnection Agreement
Law
Loading Point
Loss Factor
Market Price
Maximum Volume
Metering Device
Minimum Volume
Nomination
Offtaker
Operating Parameters
Planned Maintenance
Price Adjustment Mechanism
Program Responsible Party
Prudent Operating Practice
Ramp Rate
Reactive Power
Renewable Energy Certificates
Renewable Energy Source
Required Credit Rating
Scheduled Maintenance
Settlement Period
Shortfall
System Operator
Take-or-Pay Obligation
Target Volume
Technical Specifications
Term
Termination Date
Trading Interval
Trading Period
Transmission System
Variable Generation Source
Volume Flexibility Band
Volume Nomination
Clauses
Interpretation
Definitions
Sale and Purchase
Conditions Precedent
Term and Termination
Delivery Obligations
Title and Risk
Metering
Scheduling and Nominations
Price and Payment
Flexibility Mechanisms
Volume Adjustments
Invoicing
Credit Support
Force Majeure
Change in Law
Representations and Warranties
Covenants
Events of Default
Termination Rights
Liability and Indemnity
Insurance
Assignment
Confidentiality
Notices
Dispute Resolution
Governing Law
Anti-Corruption
Data Protection
Health and Safety
Environmental Compliance
Grid Connection
Balancing Responsibility
Testing and Commissioning
Performance Standards
Emergency Procedures
Maintenance
Record Keeping
Audit Rights
Intellectual Property
Amendments
Severability
Entire Agreement
Third Party Rights
Waiver
Counterparts
Definitions
Sale and Purchase
Conditions Precedent
Term and Termination
Delivery Obligations
Title and Risk
Metering
Scheduling and Nominations
Price and Payment
Flexibility Mechanisms
Volume Adjustments
Invoicing
Credit Support
Force Majeure
Change in Law
Representations and Warranties
Covenants
Events of Default
Termination Rights
Liability and Indemnity
Insurance
Assignment
Confidentiality
Notices
Dispute Resolution
Governing Law
Anti-Corruption
Data Protection
Health and Safety
Environmental Compliance
Grid Connection
Balancing Responsibility
Testing and Commissioning
Performance Standards
Emergency Procedures
Maintenance
Record Keeping
Audit Rights
Intellectual Property
Amendments
Severability
Entire Agreement
Third Party Rights
Waiver
Counterparts
Relevant Industries
Energy & Utilities
Renewable Energy
Manufacturing
Industrial Processing
Data Centers
Agriculture
Chemical Industry
Technology
Financial Services
Green Technology
Relevant Teams
Legal
Energy Trading
Commercial
Risk Management
Operations
Finance
Procurement
Regulatory Affairs
Business Development
Sustainability
Technical Operations
Contract Management
Treasury
Portfolio Management
Relevant Roles
Energy Trading Manager
Power Purchase Agreement Manager
Commercial Director
Energy Portfolio Manager
Legal Counsel
Risk Manager
Operations Director
Sustainability Officer
Chief Financial Officer
Energy Procurement Manager
Renewable Energy Developer
Contract Manager
Business Development Director
Technical Operations Manager
Regulatory Compliance Officer
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