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Power Offtake Agreement
"Need a Power Offtake Agreement for a new 50MW solar plant in Singapore, with ABC Solar as the producer and XYZ Manufacturing as the offtaker, including specific provisions for carbon credits and a 15-year term starting March 2025."
1. Parties: Identification and details of the power producer and offtaker
2. Background: Context of the agreement and brief description of the project
3. Definitions: Key terms used tHRoughout the agreement
4. Supply Obligations: Quantity, quality, and delivery specifications of power
5. Pricing and Payment Terms: Price structure, billing, and payment procedures
6. Term and Termination: Duration of agreement and termination conditions
7. Performance Security: Security deposits and guarantees
1. Carbon Credits: Terms relating to carbon credits or renewable energy certificates - used for renewable energy projects
2. Grid Connection: Terms relating to grid connection and maintenance - used when seller is responsible for grid connection
3. Development Milestones: Project development timeline and requirements - used for new power projects not yet operational
1. Technical Specifications: Detailed technical requirements for power supply
2. Pricing Formula: Detailed calculation of power price including adjustments
3. Testing Procedures: Procedures for testing and commissioning
4. Metering Requirements: Specifications for metering equipment and procedures
5. Operating Procedures: Detailed operational protocols and procedures
6. Form of Performance Security: Template for required security instruments
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