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Virtual Purchase Power Agreement

Virtual Purchase Power Agreement Template for Indonesia

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Key Requirements PROMPT example:

Virtual Purchase Power Agreement

"I need a Virtual Power Purchase Agreement for a 50MW solar project in East Java, Indonesia, with a 15-year term starting March 2025, including specific provisions for carbon credit trading and local community benefits."

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Document background
The Virtual Power Purchase Agreement (VPPA) template is designed for use in the Indonesian market where corporate entities seek to support renewable energy development while managing their electricity costs and environmental goals. This document type is particularly relevant when physical delivery of electricity is not feasible or desired, enabling corporate buyers to claim environmental benefits while the generator sells electricity into the grid. The agreement complies with Indonesian regulatory requirements, including the electricity law framework and investment regulations, while incorporating international VPPA best practices. It includes comprehensive provisions for financial settlements, environmental attribute transfers, risk allocation, and dispute resolution, adapted to the Indonesian legal context. The document is structured to accommodate project financing requirements and includes necessary provisions for regulatory compliance, making it suitable for both domestic and international participants in Indonesia's renewable energy market.
Suggested Sections

1. Parties: Identifies the contracting parties - typically the power generator/seller and the corporate buyer

2. Background: Sets out the context of the agreement, including the project details and parties' objectives

3. Definitions: Defines key terms used throughout the agreement

4. Term and Conditions Precedent: Specifies contract duration and conditions that must be met before the agreement becomes effective

5. Commercial Terms: Defines the strike price, settlement mechanics, and payment obligations

6. Settlement Process: Details the calculation and timing of financial settlements between parties

7. Metering and Reporting: Specifies requirements for measuring and reporting electricity generation

8. Environmental Attributes: Addresses ownership and transfer of renewable energy certificates or other environmental benefits

9. Force Majeure: Defines circumstances beyond parties' control that excuse performance

10. Default and Termination: Specifies events of default and termination rights

11. Dispute Resolution: Sets out procedures for resolving disputes

12. Governing Law: Specifies Indonesian law as governing law and relevant jurisdiction

13. Confidentiality: Protects confidential information exchanged under the agreement

14. Notices: Specifies how formal communications between parties should be made

15. Boilerplate Provisions: Standard legal provisions including assignment, amendments, and entire agreement

Optional Sections

1. Project Financing Cooperation: Used when the generator requires support for project financing arrangements

2. Change in Law: Include when parties want specific provisions for handling regulatory changes

3. Credit Support: Required when either party must provide financial security

4. Market Disruption Events: Include for handling significant market changes affecting price calculations

5. Planned Maintenance: Include if maintenance schedules affect settlement calculations

6. Carbon Rights: Include when carbon credits or offsets are relevant to the transaction

7. Insurance: Include when specific insurance requirements need to be maintained

8. Local Content Requirements: Include when Indonesian local content rules apply to the project

Suggested Schedules

1. Schedule 1: Project Details: Technical specifications of the generating facility

2. Schedule 2: Pricing and Settlement: Detailed pricing formulae and settlement calculations

3. Schedule 3: Generation Forecasts: Expected generation profiles and forecasting requirements

4. Schedule 4: Measurement and Verification: Detailed metering and reporting procedures

5. Schedule 5: Form of Generation Statement: Template for periodic generation statements

6. Schedule 6: Form of Settlement Statement: Template for settlement calculations and invoicing

7. Schedule 7: Contact Details: Key contact persons and addresses for both parties

8. Schedule 8: Form of Direct Agreement: Standard form for lender direct agreements if required

9. Appendix A: Indonesian Law Requirements: Specific provisions required under Indonesian law

10. Appendix B: Credit Support Requirements: Details of any required guarantees or security arrangements

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions





















































Clauses











































Relevant Industries

Renewable Energy

Manufacturing

Technology

Mining

Consumer Goods

Banking and Finance

Industrial

Retail

Data Centers

Telecommunications

Relevant Teams

Legal

Finance

Sustainability

Procurement

Risk Management

Treasury

Environmental Compliance

Corporate Development

Energy Trading

Commercial

Relevant Roles

Chief Financial Officer

Head of Sustainability

Energy Procurement Manager

Legal Counsel

Risk Manager

Environmental Compliance Officer

Treasury Manager

Power Trading Manager

Sustainability Director

Corporate Development Manager

Project Finance Manager

Renewable Energy Manager

Chief Sustainability Officer

Energy Trading Director

Commercial Manager

Industries









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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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