The Commercial Power Purchase Agreement (PPA) is a crucial document in Saudi Arabia's energy sector, used to formalize long-term electricity supply arrangements between power generators and commercial/industrial consumers. It is essential for projects ranging from conventional power plants to renewable energy facilities, reflecting Saudi Arabia's evolving energy landscape and Vision 2030 objectives. The agreement must comply with ECRA regulations, Saudi electricity laws, and Sharia principles while addressing commercial aspects such as pricing mechanisms, delivery obligations, and performance standards. Typically used for arrangements lasting 5-25 years, this document includes detailed technical specifications, risk allocation provisions, and specific requirements for power delivery, making it fundamental for energy infrastructure development and industrial operations in Saudi Arabia.
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1. Parties: Identification of the power seller (generator) and buyer, including their legal status and authority to contract
2. Background: Context of the agreement, including facility description and purpose of the arrangement
3. Definitions: Comprehensive definitions of technical and legal terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity, including minimum take-or-pay provisions
5. Term and Termination: Duration of the agreement, conditions for renewal, and termination rights
6. Delivery Point and Title: Specification of the point where electricity is delivered and title transfers
7. Metering and Testing: Requirements for measuring delivered electricity and testing procedures
8. Price and Payment: Pricing structure, payment terms, and invoicing procedures
9. Operation and Maintenance: Obligations regarding facility operation and maintenance standards
10. Force Majeure: Definition and consequences of force majeure events
11. Default and Remedies: Events of default and corresponding remedies
12. Dispute Resolution: Procedures for resolving disputes, including arbitration provisions compliant with Saudi law
13. Governing Law: Specification of Saudi law as governing law and incorporation of Sharia principles
14. Notices: Procedures for formal communications between parties
15. Confidentiality: Obligations regarding confidential information
16. Assignment: Restrictions and conditions for transferring rights under the agreement
1. Change in Law: Provisions addressing regulatory changes - include for long-term PPAs
2. Renewable Energy Credits: Provisions regarding ownership and trading of renewable energy credits - include for renewable energy projects
3. Grid Connection: Detailed provisions regarding grid interconnection - include if seller responsible for connection
4. Development and Construction: Provisions regarding facility construction - include for new facilities
5. Environmental Attributes: Allocation of environmental benefits and credits - include for green energy projects
6. Security Arrangements: Requirements for performance bonds or guarantees - include based on project risk assessment
7. Insurance: Specific insurance requirements - include based on risk profile
8. Local Content: Requirements for local content and Saudi participation - include if required by regulations
1. Facility Description: Technical specifications of the generation facility
2. Testing Procedures: Detailed procedures for capacity and performance testing
3. Metering Specifications: Technical requirements for metering equipment and procedures
4. Pricing Formula: Detailed pricing calculations and adjustments
5. Operating Parameters: Technical operating specifications and requirements
6. Form of Generator Performance Security: Template for required performance security documents
7. Interconnection Requirements: Technical specifications for grid connection
8. Annual Supply Quantity: Specified quantities of electricity to be supplied
9. Key Performance Indicators: Performance metrics and standards
10. Form of Direct Agreement: Template for direct agreements with lenders if required
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