PPA meaning

Power purchase agreements (PPAs), and the consequent checklist considerations, will differ according to several elements, such as the generation technology adopted and, notably, whether any feedstock or fuel is necessary to run the finished plant. The nature of the deal—be it a short-term trading arrangement or a longer-term contract required to support financing—will likewise be influential. This Checklist proceeds on the basis of a ‘conventional’ PPA with a licensed supplier as the counterparty. Other forms exist, including corporate PPAs where the buyer is an end user, potentially linked to the plant by a private wire. For additional detail on corporate PPAs, see Practice Note: Corporate Power Purchase Agreements—an introduction to structuring power purchase arrangements between large energy users and remotely located generators. What is/check the duration of the agreement? Where a PPA is needed to underpin external financing for a new generating asset, the PPA term should, as far as practicable, ideally align with the tenor of any loans advanced to fund the scheme and the associated project...

Wardle v HMRC [2024] UKFTT 543 (TC) What are the practical implications of this case? The long-standing issue of when a trade has begun has occupied the courts for over a century, albeit across differing statutory settings. In this dispute, the governing provisions were Chapter 3 of Part V, sections 169H to 169SA, of the Taxation of Chargeable Gains Act 1992 (TCGA 1992), together with section 989 of the Income Tax Act 2007 (ITA 2007). The FTT adopted Mansell, which concluded that a trade does not commence until it has been properly set up, to the extent required for it to operate (emphasis added). This outcome is pertinent whenever a factual determination is needed on the question of commencement of trade, yet the evidence shows that, at the relevant point of testing, the preparatory steps for that trade were not entirely complete. It addresses circumstances where, at the relevant testing time, the trade's set-up was not complete, requiring a factual finding accordingly...

Octopus Renewables Infrastructure Trust plc stated that the 32.6 megawatt Irishtown site will be the sixth asset the company holds within the Ballymacarney solar farm. The firm noted it is acquiring the site through a forward purchase agreement. This structure permits completion of the acquisition in full once the project has then successfully finished its operational testing...

What is a planning performance agreement? (PPA) Planning performance agreements are voluntary memoranda of understanding or agreements between a planning applicant, the local planning authority (LPA) and, in some instances, other interested parties such as key statutory consultees. A PPA records agreed commitments on timescales, tasks and the resources to be applied to a particular planning submission. Functioning as a project management framework, it sets out the pathway for reaching a determination on the application. PPAs are commonly put in place before an application is lodged and may span every stage of the process, including pre-application. Although the emphasis is usually on the pre-application and application phases, a PPA can also extend into the post-application period, for example to govern how reserved matters or approvals of details will be dealt with. They might be documented as a simple memorandum of understanding or an exchange of letters, or entered into under section 111 of the Local Government Act 1972 (LGA 1972) (see Q&A: What is a section 111 agreement?)....

What is a power purchase agreement? A power purchase agreement (PPA) is a contract between an electricity producer (generator) and the buyer of that electricity (offtaker) that sets out the commercial terms governing the sale and purchase of power from a generation project. For our comprehensive suite of resources and precedents on power purchase, see: Power purchase agreements and routes to market—overview. A PPA offers a route to market for electricity produced by the generator and, for renewable generating stations, any green benefits the generator receives for producing electricity from renewable sources, which may be sold on to electricity suppliers. It is the agreement under which a significant share (if not all) of a project’s revenues are earned and, as a result, the PPA supports the economics of most power projects. Most PPAs include provisions addressing the following matters: commencement and term sale of power sale and transfer of any green benefits (for projects generating electricity from renewable sources) credit for embedded benefits...

Partnering The idea of partnering arose in response to the criticisms directed at relationships in the construction sector by the Latham and Egan reports during the 1990s. Partnering highlights collaborative ways of working and continual improvement through performance measurement and long-term relationships, seeking to prevent many of the issues that stem from ‘traditional’ building contracts which, in certain respects, seem to expect failure rather than encourage success and advancement. A standard-form construction contract embodies many of the partnering principles championed by Latham. See Practice Note: Partnering. It was commissioned by the Association of Consulting Architects (ACA) and prepared by Trowers & Hamlin LLP. First released in 2000, further editions appeared in 2003, 2008 and 2013. It was the first standard-form partnering contract. In principle, the contract can be used for any kind of project and in any jurisdiction. Within the UK, it is widely adopted in the public sector (especially for social housing projects), while also being taken up on private sector projects...

This Agreement is entered into on [ date ] Parties [ name of the Company ] [ of [ address ] OR incorporated in England and Wales under Company registration number [ number ], whose registered office is at [ address ] ] (Purchaser) [ name of the Company ] [ of [ address ] OR incorporated in England and Wales under Company registration number [ number ], whose registered office is at [ address ] ] (Generator) Background The Generator owns and operates the Facility. The Purchaser intends to purchase, and the Generator intends to sell, the electricity to be produced by the Facility in line with the terms of this Agreement...