The Power Sale Agreement serves as a crucial contract in Nigeria's electricity sector, establishing the commercial and technical framework for power trading between generators and purchasers. This document is essential when establishing long-term power supply arrangements, typically used for both conventional and renewable energy projects in Nigeria. It must comply with the Electric Power Sector Reform Act 2005 and various NERC regulations, incorporating specific requirements for tariff structures, technical standards, and operational parameters. The agreement is particularly important given Nigeria's developing power sector and the need for clear, enforceable terms in power trading arrangements. It includes detailed provisions for power delivery, measurement, payment terms, and risk allocation, while addressing specific local content requirements and grid connection standards applicable in the Nigerian context.
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1. Parties: Identification of the power seller and purchaser, including their legal status and registration details
2. Background: Context of the agreement, including relevant licenses and authorizations held by parties
3. Definitions and Interpretation: Detailed definitions of technical and commercial terms used in the agreement
4. Sale and Purchase Obligation: Core obligations regarding the sale and purchase of power, including minimum take-or-pay provisions
5. Term and Termination: Duration of the agreement, conditions for renewal, and termination rights
6. Delivery Point and Title: Specification of the point where power is delivered and title transfers
7. Metering and Testing: Requirements for measuring delivered power and testing procedures
8. Pricing and Payment: Tariff structure, billing procedures, and payment terms
9. Operating Procedures: Day-to-day operational requirements and communication protocols
10. Maintenance and Outages: Scheduled maintenance provisions and procedures for managing outages
11. Force Majeure: Events constituting force majeure and consequential rights and obligations
12. Representations and Warranties: Standard and specific warranties from both parties
13. Liability and Indemnification: Allocation of risks and indemnification obligations
14. Dispute Resolution: Procedures for resolving disputes, including arbitration provisions
15. Governing Law: Specification of Nigerian law as governing law and relevant jurisdictional matters
1. Change in Law: Provisions addressing changes in regulatory framework - include if regulatory environment is volatile
2. Grid Connection: Technical requirements for grid connection - include if seller is responsible for grid connection
3. Carbon Credits: Allocation of carbon credits or other environmental attributes - include for renewable energy projects
4. Security Package: Requirements for performance security - include if credit support is required
5. Local Content: Nigerian content requirements - include if project falls under local content regulations
6. Step-in Rights: Lender's step-in rights - include if project financing is involved
7. Insurance: Specific insurance requirements - include if standard insurance provisions are insufficient
8. Interconnection: Detailed interconnection requirements - include for complex grid connections
1. Technical Specifications: Detailed technical parameters of the power facility
2. Testing Procedures: Procedures for testing and commissioning
3. Metering Specifications: Technical requirements for metering equipment
4. Operating Parameters: Operational limits and performance requirements
5. Tariff Calculation: Detailed methodology for calculating tariffs
6. Form of Performance Security: Template for any required performance bonds or guarantees
7. Grid Code Requirements: Specific requirements from the Nigerian Grid Code
8. Emergency Procedures: Procedures for handling emergency situations
9. Contact Details: Key personnel and communication protocols
10. Required Permits: List of permits and licenses required for operation
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