The Power Sales Agreement serves as the primary commercial instrument for power trading in Malaysia's energy market. This document is essential when establishing long-term power purchase arrangements between generators and off-takers, whether for conventional or renewable energy sources. The agreement must comply with Malaysian regulatory requirements, including the Electricity Supply Act 1990 and Energy Commission regulations. It typically includes detailed technical specifications, pricing mechanisms, operational procedures, and risk allocation between parties. The Power Sales Agreement is particularly crucial for project financing in the power sector, as it provides the revenue security required by lenders and investors. The document structure reflects Malaysian market practices while incorporating international power industry standards.
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1. Parties: Identification of the power seller/generator and buyer/off-taker, including their legal details and registered addresses
2. Background: Context of the agreement, including facility details, generation capacity, and purpose of the agreement
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Term and Effectiveness: Duration of the agreement, including conditions precedent, effective date, and termination date
5. Sale and Purchase Obligations: Core obligations of parties regarding power supply and purchase, including minimum take-or-pay obligations
6. Facility Requirements: Technical specifications and requirements for the power generation facility
7. Metering and Testing: Requirements for measuring delivered electricity and testing procedures
8. Pricing and Payment: Tariff structure, payment terms, invoicing, and dispute procedures
9. Operation and Maintenance: Standards for facility operation, maintenance requirements, and performance guarantees
10. Interconnection: Requirements for connection to the grid or distribution system
11. Force Majeure: Definition of force majeure events and their consequences
12. Default and Termination: Events of default, remedies, and termination procedures
13. Liability and Indemnification: Allocation of risks and responsibilities between parties
14. Insurance: Required insurance coverage for both parties
15. Dispute Resolution: Procedures for resolving disputes, including arbitration provisions
16. Governing Law: Specification of Malaysian law as governing law and jurisdiction
17. Miscellaneous: Standard provisions including notices, amendments, assignments, and confidentiality
1. Renewable Energy Certificates: Include when the power source is renewable and RECs are part of the transaction
2. Carbon Credits: Include when carbon credits or environmental attributes are being traded
3. Government Approvals: Detailed section needed when specific licenses or permits are required
4. Local Content Requirements: Include when there are specific Malaysian local content obligations
5. Currency Risk: Include when payments are made in foreign currency
6. Step-in Rights: Include when lender step-in rights are required for project financing
7. Performance Security: Include when additional security or performance bonds are required
1. Schedule 1 - Technical Specifications: Detailed technical specifications of the power facility
2. Schedule 2 - Testing Procedures: Procedures for testing and commissioning the facility
3. Schedule 3 - Tariff and Payment Calculations: Detailed pricing formulas and payment calculations
4. Schedule 4 - Operating Procedures: Detailed procedures for day-to-day operation
5. Schedule 5 - Performance Standards: Required performance levels and measurement methods
6. Schedule 6 - Interconnection Specifications: Technical requirements for grid connection
7. Schedule 7 - Form of Performance Security: Template for performance bonds or security
8. Schedule 8 - Metering Specifications: Technical requirements for metering equipment
9. Schedule 9 - Required Insurance: Detailed insurance requirements and coverage levels
10. Appendix A - Site Description: Detailed description and maps of the facility site
11. Appendix B - Permits and Licenses: List of required governmental approvals
12. Appendix C - Initial Testing Results: Baseline performance data from commissioning
Authors
Relevant legal definitions
Clauses
Relevant Industries
Energy
Utilities
Infrastructure
Renewable Energy
Manufacturing
Industrial
Power Generation
Power Distribution
Clean Technology
Relevant Teams
Legal
Operations
Commercial
Technical
Finance
Regulatory Affairs
Environmental
Risk Management
Business Development
Project Management
Compliance
Engineering
Relevant Roles
Energy Lawyer
Power Plant Manager
Commercial Director
Chief Technical Officer
Regulatory Compliance Officer
Project Finance Manager
Energy Trading Manager
Grid Connection Engineer
Operations Manager
Risk Manager
Contract Administrator
Chief Financial Officer
Environmental Compliance Officer
Business Development Manager
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