Extract
The Wind Power Purchase Agreement.
The power purchase agreement or "PPA" is a key agreement in the development of a wind power project. While there are wind farms that are "merchant" projects subject to a PPA are far more numerous. For such projects, the PPA represents the sole, or most significant, source of revenue. What I have tried to do in this paper is identify some of the typical issues that arise in the course of negotiating a PPA, both in the United States and Canada, from the perspective of a project lender. This perspective is a most important one because lenders will typically have a lower risk tolerance compared to developers and equity investors. The ...
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