The Corporate Power Purchase Agreement is a crucial document for organizations seeking to secure long-term electricity supply while supporting renewable energy development in Austria. It establishes the commercial and technical framework for direct power purchase between generators and corporate consumers, typically running for 10-15 years. The document must comply with Austrian energy law, including the Electricity Industry and Organisation Act (ElWOG) and Green Electricity Act, as well as relevant EU directives. It's particularly important for companies with sustainability goals, as it often includes provisions for green certificates and environmental attributes. The agreement covers essential elements such as delivery obligations, pricing mechanisms, risk allocation, and operational requirements, while accounting for Austrian grid regulations and market rules.
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1. Parties: Identification and details of the contracting parties (Generator/Seller and Corporate Buyer)
2. Background: Context of the agreement, including facility details and parties' objectives
3. Definitions: Defined terms used throughout the agreement
4. Sale and Purchase Obligations: Core obligations regarding electricity supply and purchase, including volume commitments
5. Term and Termination: Duration of the agreement, conditions for extension, and termination rights
6. Price and Payment: Pricing structure, payment terms, invoicing, and settlement procedures
7. Metering and Documentation: Requirements for measuring and recording electricity delivery
8. Delivery Point and Risk Transfer: Specification of where electricity is delivered and risk/title passes
9. Generation Facility: Specifications and requirements for the power generation facility
10. Representations and Warranties: Standard and specific warranties from both parties
11. Force Majeure: Definition and consequences of force majeure events
12. Change in Law: Procedures for handling regulatory changes affecting the agreement
13. Liability and Indemnification: Allocation of risks and liability between parties
14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
15. Confidentiality: Protection of confidential information
16. Miscellaneous: Standard boilerplate provisions including notices, amendments, and assignment
1. Green Certificates and Environmental Benefits: Provisions regarding renewable energy certificates and environmental attributes, used when specifically trading these attributes
2. Grid Connection and Transmission: Detailed provisions about grid responsibilities, included when grid connection is part of the seller's scope
3. Development and Construction: Include for projects not yet operational, covering construction milestones and requirements
4. Credit Support: Requirements for guarantees or other credit support, included for parties requiring additional security
5. Insurance: Specific insurance requirements, included when standard insurance provisions need enhancement
6. Forecasting and Scheduling: Detailed provisions about power generation forecasting, included for variable renewable sources
7. Performance Guarantees: Specific performance metrics and remedies, included when guaranteed output levels are required
1. Schedule 1 - Facility Description: Technical specifications of the generation facility
2. Schedule 2 - Pricing Mechanism: Detailed pricing calculations and adjustments
3. Schedule 3 - Testing and Commissioning: Procedures for facility testing and commissioning
4. Schedule 4 - Operating Parameters: Technical and operational requirements
5. Schedule 5 - Metering Specifications: Technical requirements for metering equipment and procedures
6. Schedule 6 - Form of Direct Agreement: Standard form of direct agreement with financiers
7. Schedule 7 - Notices: Contact details and notice requirements
8. Schedule 8 - Generation Forecasting: Procedures and requirements for generation forecasting
9. Appendix A - Form of Guarantee: Template for any required parent company or bank guarantees
10. Appendix B - Insurance Requirements: Detailed insurance specifications and requirements
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