Power Offtake Agreements are essential contracts in Singapore's energy market, used when establishing long-term power supply arrangements between generators and consumers. These agreements, regulated under Singapore's robust energy framework, provide certainty for both parties regarding power supply, pricing, and operational requirements. The document typically includes detailed technical specifications, pricing mechanisms, and performance standards, ensuring compliance with Singapore's electricity market rules and environmental regulations. Power Offtake Agreements are particularly crucial for renewable energy projects and industrial consumers requiring dedicated power supply arrangements.
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1. Parties: Identification and details of the power producer and offtaker
2. Background: Context of the agreement and brief description of the project
3. Definitions: Key terms used tHRoughout the agreement
4. Supply Obligations: Quantity, quality, and delivery specifications of power
5. Pricing and Payment Terms: Price structure, billing, and payment procedures
6. Term and Termination: Duration of agreement and termination conditions
7. Performance Security: Security deposits and guarantees
1. Carbon Credits: Terms relating to carbon credits or renewable energy certificates - used for renewable energy projects
2. Grid Connection: Terms relating to grid connection and maintenance - used when seller is responsible for grid connection
3. Development Milestones: Project development timeline and requirements - used for new power projects not yet operational
1. Technical Specifications: Detailed technical requirements for power supply
2. Pricing Formula: Detailed calculation of power price including adjustments
3. Testing Procedures: Procedures for testing and commissioning
4. Metering Requirements: Specifications for metering equipment and procedures
5. Operating Procedures: Detailed operational protocols and procedures
6. Form of Performance Security: Template for required security instruments
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