The Prepaid Solar Power Purchase Agreement is essential for businesses and individuals in Nigeria seeking to implement renewable energy solutions while managing upfront costs and ensuring reliable power supply. This document type has gained prominence due to Nigeria's growing focus on renewable energy adoption and the need for reliable off-grid power solutions. The agreement is particularly relevant in the context of Nigeria's Electric Power Sector Reform Act and the National Renewable Energy and Energy Efficiency Policy, which promote alternative energy sources. It includes comprehensive provisions for system installation, maintenance, performance guarantees, and payment structures, making it suitable for commercial, industrial, and residential applications. The prepaid structure helps mitigate payment risks while providing customers with better control over their energy consumption.
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1. Parties: Identification of the Solar Power Provider and the Customer/Offtaker
2. Background: Context of the agreement, including the Provider's authority to supply solar power and the Customer's intention to purchase
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. System Installation and Ownership: Details of the solar system installation, ownership structure, and property rights
5. Term and Termination: Duration of the agreement, renewal terms, and termination conditions
6. Prepayment Structure: Details of the prepayment mechanism, including minimum payments and top-up procedures
7. Energy Supply and Consumption: Specifications of energy supply, consumption measurement, and delivery points
8. Tariffs and Charges: Pricing structure, tariff adjustments, and additional charges
9. Maintenance and Operation: Responsibilities for system maintenance, operation, and performance monitoring
10. Performance Guarantees: Guaranteed output levels and performance metrics
11. Access and Security: Provider's access rights and security arrangements for the installation
12. Customer Obligations: Customer's responsibilities and commitments
13. Provider Obligations: Provider's responsibilities and commitments
14. Force Majeure: Events beyond parties' control and their implications
15. Dispute Resolution: Procedures for resolving disputes
16. Governing Law: Application of Nigerian law and jurisdiction
1. Insurance: Insurance requirements if not covered by either party's existing policies
2. Environmental Credits: Allocation of environmental attributes and carbon credits if applicable
3. Grid Connection: Terms for grid connection if the system is grid-tied
4. Battery Storage: Provisions for battery storage systems if included
5. Assignment and Novation: Rights to assign or transfer the agreement if needed
6. Step-in Rights: Lender's step-in rights if project financing is involved
7. Import Duties: Allocation of import duties and taxes if equipment is imported
8. Local Content: Local content requirements if applicable under Nigerian regulations
1. Technical Specifications: Detailed specifications of the solar power system and equipment
2. Site Details: Location, access points, and site-specific requirements
3. Tariff Schedule: Detailed pricing structure and calculation methodology
4. Performance Parameters: Specific performance metrics and measurement methodology
5. Installation Timeline: Project implementation schedule and milestones
6. Maintenance Schedule: Planned maintenance activities and schedules
7. Required Approvals: List of required permits and regulatory approvals
8. Emergency Procedures: Emergency response and contact procedures
9. Payment Mechanisms: Detailed prepayment processes and platforms
10. Form of Performance Security: Template for any required performance guarantees or bonds
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