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Power Purchase Agreement Solar

Power Purchase Agreement Solar Template for Saudi Arabia

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Key Requirements PROMPT example:

Power Purchase Agreement Solar

"I need a Solar Power Purchase Agreement for a 100MW solar facility in Riyadh, Saudi Arabia, where my company (a private developer) will sell power to the Saudi Electricity Company, with expected commercial operations to begin in March 2025."

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Document background
This Power Purchase Agreement Solar template is designed for use in Saudi Arabia's expanding renewable energy sector, specifically tailored to comply with Saudi law and regulatory requirements. The document is essential for establishing long-term electricity purchase arrangements between solar power producers and off-takers, typically spanning 20-25 years. It incorporates critical elements required by Saudi Arabia's Electricity & Cogeneration Regulatory Authority (ECRA) and aligns with the National Renewable Energy Program's frameworks. The agreement addresses key aspects including energy pricing, delivery obligations, facility construction and commissioning, operational standards, and grid connection requirements. It supports Saudi Vision 2030's renewable energy targets while ensuring bankability for project finance purposes and compliance with both conventional and Islamic finance principles.
Suggested Sections

1. Parties: Identification of the power producer (seller) and the power purchaser (buyer)

2. Background: Context of the agreement, including project location and purpose

3. Definitions: Defined terms used throughout the agreement, including technical and commercial terms

4. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of energy, including minimum purchase commitments

5. Term and Termination: Duration of the agreement, conditions for renewal, and termination rights

6. Price and Payment: Energy price structure, payment terms, invoicing, and payment security

7. Metering and Testing: Requirements for measuring delivered energy and testing procedures

8. Facility Construction and Commissioning: Requirements for building and commissioning the solar facility

9. Operation and Maintenance: Obligations regarding facility operation and maintenance

10. Grid Connection: Requirements for connection to and compliance with grid regulations

11. Force Majeure: Events excusing performance and consequences

12. Change in Law: Provisions addressing regulatory changes and their impact

13. Insurance: Required insurance coverage and related obligations

14. Assignment and Transfer: Restrictions and conditions for transferring rights and obligations

15. Dispute Resolution: Procedures for resolving disputes, including governing law and jurisdiction

16. Notices: Requirements for formal communications between parties

Optional Sections

1. Development Security: Required when the facility is not yet constructed, covering security for development obligations

2. Performance Security: Optional provisions for performance bonds or guarantees

3. Environmental Credits: Provisions regarding renewable energy certificates and carbon credits, if applicable

4. Step-in Rights: Rights of lenders or the buyer to step in and operate the facility in certain circumstances

5. Land Rights: Required if land rights need to be addressed in the main agreement rather than separate documents

6. Interface with EPC Contract: Required when construction is ongoing or planned, addressing relationship with construction contract

7. Capacity Extension: Optional provisions for future expansion of the facility

8. Battery Storage: Required if the project includes energy storage components

Suggested Schedules

1. Facility Description: Technical specifications of the solar facility

2. Site Description: Detailed description and plans of the project site

3. Testing and Commissioning Procedures: Detailed procedures for facility testing and commissioning

4. Performance Standards: Required performance levels and testing procedures

5. Tariff and Payment Calculations: Detailed pricing formulas and calculation methodologies

6. Grid Specifications: Technical requirements for grid connection

7. Form of Performance Security: Template for any required performance bonds or guarantees

8. Operating Procedures: Detailed procedures for facility operation

9. Metering Specifications: Technical requirements for metering equipment and procedures

10. Form of Direct Agreement: Template agreement between lenders, seller, and buyer

11. Insurance Requirements: Detailed insurance specifications and requirements

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 Commercial Operation Date
Applicable Laws
Applicable Permits
Authority
Available Capacity
Base Rate
Billing Period
Buy-Out Amount
Capacity
Change in Law
Commercial Operation Date
Commissioning
Commissioning Tests
Contract Capacity
Contract Year
Deemed Generated Energy
Delivery Point
Development Security
Dispatch Instructions
ECRA
Effective Date
Electrical Installation License
Energy Charge
Environmental Attributes
EPC Contract
Facility
Force Majeure Event
Good Industry Practice
Grid
Grid Code
Grid Connection Agreement
Initial Operation Date
Interconnection Facilities
Invoice
Islamic Finance Provisions
Land Rights
Lenders
Maintenance Schedule
Metering System
Minimum Functional Specifications
Monthly Energy Payment
Net Electrical Energy
Operating Parameters
Operating Period
Operating Year
Performance Security
Performance Tests
Plant
Point of Common Coupling
Power Station
Project
Project Documents
Prudent Utility Practice
Reactive Power
Required Commercial Operation Date
Required Financial Closing Date
SCADA System
Scheduled Commercial Operation Date
Scheduled Outage
SEC
Site
Solar Resource
Step-in Rights
System Emergency
Tariff
Technical Limits
Term
Testing
Transmission Company
Unscheduled Outage
Vision 2030
Clauses
Definitions
Interpretation
Term and Duration
Conditions Precedent
Construction and Development
Testing and Commissioning
Sale and Purchase Obligations
Metering
Billing and Payment
Performance Security
Grid Connection
Technical Requirements
Operation and Maintenance
Scheduled Maintenance
Force Majeure
Change in Law
Default and Termination
Buy-Out
Assignment
Insurance
Dispute Resolution
Governing Law
Confidentiality
Notices
Environmental Compliance
Health and Safety
Warranties and Representations
Land Rights
Liability and Indemnification
Step-in Rights
Islamic Finance Compliance
Anti-corruption
Records and Audit
Performance Standards
Liquidated Damages
Security Interests
Local Content
Export Control
Intellectual Property
Decommissioning
Emergency Procedures
Relevant Industries

Renewable Energy

Solar Power

Utilities

Infrastructure

Power Generation

Energy Distribution

Project Finance

Construction

Environmental Services

Public Utilities

Relevant Teams

Legal

Project Development

Commercial

Operations

Finance

Technical

Regulatory Affairs

Environmental

Risk Management

Grid Operations

Procurement

Compliance

Relevant Roles

General Counsel

Energy Project Manager

Renewable Energy Director

Commercial Manager

Technical Director

Chief Financial Officer

Contracts Manager

Regulatory Compliance Officer

Operations Manager

Project Development Manager

Risk Manager

Environmental Compliance Manager

Grid Connection Engineer

Finance Director

Legal Counsel

Industries
Law of Electricity: The primary legislation governing the electricity sector in Saudi Arabia, including licensing requirements for power generation and distribution
Electricity and Cogeneration Regulatory Authority (ECRA) Regulations: Regulatory framework for power generation, including technical standards and operational requirements for solar facilities
National Renewable Energy Program (NREP): Framework established under Vision 2030 that sets out targets and regulations for renewable energy development in Saudi Arabia
Grid Connection Code: Technical requirements and standards for connecting solar power facilities to the national grid
Environmental Protection Law: Regulations regarding environmental impact assessments and protection measures for power generation facilities
Saudi Commercial Law: General commercial law principles governing business contracts and agreements in Saudi Arabia
Land Registration Law: Regulations regarding land use rights and registration requirements for solar facility installations
Saudi Arabia Monetary Authority (SAMA) Regulations: Financial regulations affecting payment terms and financial security requirements in power purchase agreements
King Abdullah City for Atomic and Renewable Energy (K.A.CARE) Regulations: Specific regulations and guidelines for renewable energy projects in Saudi Arabia
Competition Law: Regulations ensuring fair competition in the power generation sector and preventing monopolistic practices
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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