Contract timeline Power purchase agreement

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1 contract timeline

1.1 effective date
1.2 commercial operation
1.3 preemptive termination date





contract timeline
effective date

the ppa considered contractually binding on date signed, known effective date. once project has been built, effective date ensures purchaser buy electricity generated , supplier not sell output else except purchaser.


commercial operation

before seller can sell electricity buyer, project must tested , commissioned ensure reliability , comply established commercial practices. commercial operation date defined date after testing , commissioning has been completed , initiation date seller can start producing electricity sale (i.e. when project has been substantially completed). commercial operation date specifies period of operation, including end date contractually agreed upon.


preemptive termination date

typically, termination of ppa ends on agreed upon commercial operation period. ppa may terminated if abnormal events occur or circumstances result fail meet contractual guidelines. seller has right curtail delivery of energy if such abnormal circumstances arise, including natural disasters , uncontrolled events. ppa may allow buyer curtail energy in circumstances after-tax value of electricity changes.


when energy curtailed, because 1 of parties involved @ fault, results in paid damages other party. may excused in extraordinary circumstances such natural disasters , party responsible repairing project liable such damages. in situations liability not defined in contract, parties may negotiate force majeure resolve these issues.








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