The Green Power Purchase Agreement (GPPA) is a specialized contract used in Singapore's renewable energy market to facilitate direct renewable power procurement. This document is essential when organizations seek to secure long-term renewable energy supply, particularly in meeting sustainability goals and regulatory requirements under Singapore's Green Plan 2030. The GPPA includes provisions for power purchase, renewable energy certificates, carbon credits, and compliance with Singapore's electricity market regulations. It's particularly relevant given Singapore's growing focus on renewable energy adoption and corporate sustainability commitments.
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Key Requirements PROMPT example:
Green Power Purchase Agreement
"Need a Green Power Purchase Agreement for our new 50MW solar facility in Singapore, to sell renewable energy to a major tech company, with delivery starting March 2025 and including provisions for REC trading and carbon credit allocation."
1. Parties: Identification and details of the power generator and purchaser
2. Background: Context of the agreement and parties' intentions
3. Definitions: Key terms used tHRoughout the agreement including regulatory references
4. Sale and Purchase Obligations: Core obligations regarding green power supply and purchase commitments
5. Pricing and Payment Terms: Price structure, payment mechanisms, and schedules
6. Term and Termination: Duration of agreement and termination provisions
7. Metering and Reporting: Requirements for measuring and reporting power generation/consumption
8. Representations and Warranties: Standard and specific warranties regarding generation capacity and green power credentials
9. Force Majeure: Provisions for unforeseen circumstances affecting power generation or delivery
10. Governing Law and Dispute Resolution: Singapore law provisions and dispute resolution mechanisms
1. REC Trading Provisions: Optional section covering REC trading arrangements when parties wish to include REC trading as part of the agreement
2. Carbon Credit Provisions: Optional section detailing carbon credit allocation and trading arrangements when relevant to the transaction
3. Grid Connection: Optional section covering technical requirements for grid connection when direct supply arrangements requiring new connections are needed
4. Change in Law: Optional detailed provisions for handling regulatory changes affecting green power generation or trading
1. Technical Specifications Schedule: Detailed specifications of generation facility and equipment
2. Pricing Schedule: Detailed pricing mechanisms, calculations, and adjustment formulas
3. Performance Standards Schedule: Required generation and availability standards
4. Metering Protocols Schedule: Detailed procedures for metering and measurement
5. REC Specifications Schedule: Details of REC creation, trading, and verification processes
6. Regulatory Compliance Schedule: List of applicable regulations and compliance requirements under Singapore law
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