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Virtual Ppa Renewable (Energy)
"I need a Virtual PPA Renewable (Energy) agreement for a 50MW solar project in East Java, Indonesia, with settlement in USD and delivery starting March 2025, including provisions for carbon credit trading."
1. Parties: Identification of the power producer and the corporate buyer, including registration details as required under Indonesian law
2. Background: Context of the agreement, including project details and parties' objectives
3. Definitions: Definitions of technical terms, regulatory references, and contract-specific terminology
4. Term and Conditions Precedent: Duration of the agreement and conditions that must be satisfied before the agreement becomes effective
5. Virtual PPA Structure: Mechanism for virtual settlement, including reference prices, settlement calculations, and payment obligations
6. Energy Production and Sales: Obligations regarding energy generation, delivery points, and measurement
7. Pricing and Payment: Price structure, payment terms, invoicing requirements, and settlement procedures
8. Environmental Attributes: Ownership and transfer of renewable energy certificates and other environmental benefits
9. Metering and Reporting: Requirements for measuring and reporting energy production and calculations for settlement
10. Force Majeure: Events constituting force majeure and their consequences
11. Default and Termination: Events of default, cure periods, and termination rights
12. Dispute Resolution: Procedures for resolving disputes under Indonesian law
13. Governing Law: Confirmation of Indonesian law as governing law and related jurisdictional provisions
1. Direct Agreements: Required when project financing is involved, establishing rights of lenders
2. Change in Law: Include when regulatory environment is uncertain or significant changes are anticipated
3. Market Disruption: Include when reference market prices are crucial to the virtual settlement mechanism
4. Capacity Rights: Include when capacity payments or rights are relevant to the project
5. Insurance: Include detailed insurance requirements when required by financiers or risk assessment
6. Local Content Requirements: Include when project must comply with Indonesian local content regulations
7. Grid Interface: Include when specific grid connection requirements need to be addressed
1. Schedule 1 - Project Specifications: Technical details of the renewable energy facility, including capacity and technology
2. Schedule 2 - Testing and Commissioning: Procedures and requirements for facility testing and commercial operation
3. Schedule 3 - Calculation of Payments: Detailed methodology for calculating virtual settlements and payments
4. Schedule 4 - Reference Price Methodology: Specification of market reference prices and calculation methods
5. Schedule 5 - Form of Performance Security: Required form and terms of any performance security or guarantees
6. Schedule 6 - Operating Parameters: Technical and operational requirements for the facility
7. Schedule 7 - Metering Specifications: Technical requirements for metering equipment and procedures
8. Schedule 8 - Environmental Attributes Documentation: Forms and procedures for environmental attributes transfer
9. Appendix A - Required Permits: List of permits and authorizations required under Indonesian law
10. Appendix B - Insurance Requirements: Detailed insurance requirements and minimum coverage levels
Authors
Renewable Energy
Power Generation
Utilities
Manufacturing
Technology
Industrial
Mining
Data Centers
Real Estate
Retail
Legal
Procurement
Sustainability
Finance
Risk Management
Corporate Strategy
Environmental Compliance
Energy Trading
Treasury
Operations
Chief Sustainability Officer
Energy Procurement Manager
Legal Counsel
Chief Financial Officer
Sustainability Director
Power Purchase Agreement Manager
Environmental Compliance Manager
Energy Trading Manager
Risk Manager
Corporate Strategy Director
Renewable Energy Project Manager
Environmental, Social and Governance (ESG) Manager
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Indonesian law-governed Virtual Power Purchase Agreement for renewable energy projects, establishing financial settlement mechanisms between generators and corporate buyers.
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