Direct Power Purchase Agreements (PPAs) have become increasingly important in Singapore's liberalized electricity market, particularly for corporations seeking to secure reliable and potentially renewable power supplies. These agreements provide a framework for direct electricity procurement between generators and corporate buyers, bypassing traditional utility providers while maintaining compliance with Singapore's regulatory requirements. The document includes essential terms covering supply obligations, pricing structures, performance standards, and regulatory compliance, making it a crucial tool for both power generators and corporate entities looking to manage their electricity supply and costs effectively.
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Key Requirements PROMPT example:
Direct Power Purchase Agreement
"I need a Direct Power Purchase Agreement for a solar power facility in Singapore supplying 50MW to our manufacturing plant, with specific provisions for green energy certificates and carbon credits, starting from March 2025."
1. Parties: Details of the power generator and purchaser
2. Background: Context of the agreement and brief description of the parties' intentions
3. Definitions: Key terms used tHRoughout the agreement including regulatory references to Singapore electricity market
4. Supply Obligations: Core obligations regarding power supply and delivery, compliance with Electricity Act and EMA requirements
5. Pricing and Payment Terms: Price structure, invoicing, and payment conditions including market-specific mechanisms
6. Term and Termination: Duration of agreement and termination provisions
7. Metering and Reporting: Requirements for measuring and reporting power delivery in accordance with Singapore Electricity Supply Code
8. Regulatory Compliance: Obligations to comply with Singapore electricity regulations and market rules
9. Force Majeure: Events beyond parties' control and their consequences
10. Dispute Resolution: Process for resolving disputes under Singapore law
1. Green Attributes: Provisions for renewable energy certificates and environmental attributes when renewable energy sources are involved
2. Carbon Credits: Treatment of carbon credits and emissions trading under Singapore's Carbon Pricing Act
3. Backup Power Arrangements: Alternative supply arrangements during outages or supply disruptions
4. Environmental Compliance: Additional environmental obligations under Singapore's Environmental Protection and Management Act
1. Technical Specifications: Detailed technical requirements and standards compliant with Singapore grid requirements
2. Pricing Schedule: Detailed pricing mechanisms, calculations, and market adjustment provisions
3. Performance Standards: Specific performance metrics and requirements under Singapore Electricity Supply Code
4. Metering Specifications: Technical details of metering arrangements and compliance requirements
5. Operating Procedures: Detailed procedures for day-to-day operations and emergency protocols
6. Regulatory Compliance Schedule: Detailed listing of applicable Singapore regulations and compliance requirements
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