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Corporate Power Purchase Agreement

Corporate Power Purchase Agreement Template for United States

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Key Requirements PROMPT example:

Corporate Power Purchase Agreement

"I need a Corporate Power Purchase Agreement for my tech company to purchase 100MW of solar power from a new facility in Texas, with delivery starting in March 2025 and including provisions for both physical delivery and virtual settlement."

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Document background
Corporate Power Purchase Agreements have become increasingly important as organizations seek to meet sustainability goals and manage energy costs. These agreements, governed by U.S. federal and state regulations, enable direct procurement of electricity from generators, typically renewable energy facilities. A CPPA includes detailed terms for energy delivery, pricing mechanisms, environmental attributes (such as renewable energy certificates), and risk allocation. The agreement structure must comply with both FERC requirements and state-specific regulations, while addressing the commercial needs of both generators and corporate buyers.
Suggested Sections

1. Parties: Identification of the power seller and buyer, including full legal names and addresses

2. Background: Context of the agreement, basic transaction structure, and key commercial drivers

3. Definitions: Comprehensive list of defined terms used throughout the agreement

4. Sale and Purchase Obligations: Core commercial terms including volume commitments, price structure, and delivery points

5. Term and Termination: Duration of agreement, conditions precedent, and termination rights

6. Payment Terms: Billing cycles, invoicing requirements, payment timing, and dispute resolution

7. Force Majeure: Events excusing performance and related notification requirements

8. Representations and Warranties: Standard and transaction-specific representations by both parties

9. Credit Support: Security requirements, guarantees, and credit-related provisions

10. Events of Default: Default triggers and remedies available to non-defaulting party

Optional Sections

1. Environmental Attributes: Treatment of RECs and other environmental benefits, used when renewable energy attributes are part of the transaction

2. Development Milestones: Project development timeline and requirements, included for new build projects

3. Storage Provisions: Terms relating to energy storage facilities and operations, used when battery storage is included

4. Curtailment: Rules and compensation for curtailment events, included when relevant to the project type

5. Change in Law: Allocation of risks related to regulatory changes, used in long-term agreements

Suggested Schedules

1. Schedule A - Facility Description: Technical details of the generating facility including location, capacity, and technology type

2. Schedule B - Product Specifications: Detailed description of energy products, pricing formulas, and settlement procedures

3. Schedule C - Operating Procedures: Day-to-day operational requirements, scheduling, and communication protocols

4. Schedule D - Form of Guaranty: Template for any required financial guarantees or credit support documents

5. Schedule E - Metering Requirements: Technical specifications for metering equipment and data collection

6. Schedule F - Expected Generation Profile: Projected energy output profile and performance guarantees if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Industries

Federal Power Act (FPA): Primary federal law governing wholesale electricity transactions and interstate electricity sales under FERC jurisdiction

Public Utility Regulatory Policies Act (PURPA): Federal law establishing rules for qualifying facilities and interconnection requirements for power generation facilities

FERC Regulations: Federal regulatory framework covering market-based rate authority and open access transmission requirements

SEC Requirements: Federal securities regulations including disclosure obligations for public companies and ESG reporting requirements

State Public Utility Commission Regulations: State-specific regulations governing retail electricity sales and renewable energy requirements

State Renewable Portfolio Standards (RPS): State-level requirements for renewable energy compliance and Renewable Energy Certificate (REC) management

State Energy Choice Laws: State-specific legislation governing retail competition and direct access provisions for energy procurement

Clean Air Act: Federal environmental law regulating air emissions from power generation facilities

EPA Regulations: Environmental Protection Agency rules affecting power generation and emissions standards

State Environmental Regulations: State-specific environmental requirements affecting power generation and distribution

Uniform Commercial Code (UCC): Standardized state laws governing commercial transactions, including energy sales and purchases

Bankruptcy Code: Federal laws affecting contractual obligations and protections in case of bankruptcy of either party

State Contract Law: State-specific laws governing contract formation, enforcement, and remedies

ISO/RTO Market Rules: Independent System Operator/Regional Transmission Organization requirements for market participation and energy delivery

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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