Note: This form of Power Purchase Agreement is aPPLICable to OFF-Island GENERATION, with a controllable cable (“off-iSLAND ppa”). LIPA expressly reserves the right to modify or otherwise revise this draft as it may deem necessary or advisable or as circumstances may otherwise warrant, including in response to questions submitted by Proposers.
SUPPLEMENT 1: STANDARD CLAUSES FOR LIPA’S CONTRACTS
SUPPLEMENT 2: STANDARD PROCUREMENT FORMS
POWER PURCHASE AGREEMENT
THIS POWER PURCHASE AGREEMENT, dated as of [Date], is between the Long Island Power Authority, a corporate municipal instrumentality of the State of New York, with its headquarters at 333 Earle Ovington Boulevard, Uniondale, New York 11553 (“Buyer”) and [Name of Entity], a [(e.g., LLC, LP, corporation)] organized and existing under the laws of the State of [State], with its headquarters at [address], [City], [State] [zip] (“Seller”).
WHEREAS, Buyer is engaged in the distribution and sale of electricity for heat, light and power to the public in the State of New York;
WHEREAS, Seller intends to [construct] [if applicable], own, operate and maintain a generating facility with a nominal rating of [MW] to be located [Location] (the “Off-Island Generator”); [PROPOSER TO DESCRIBE PROJECT]
WHEREAS, Seller intends to construct, own, operate and maintain a controllable transmission cable with a nominal rating of [MW] to be connected between [Locations] (the “Controllable Cable”); [PROPOSER TO DESCRIBE PROJECT]
WHEREAS, Seller has agreed to sell to Buyer, and Buyer has agreed to purchase from Seller, the Dedicated Capacity, Contract Energy, and [Ancillary Services] from the Off-Island Generator and Buyer Firm Transmission Capacity and Ancillary Services from the Controllable Cable (jointly the “Products”), all in accordance with the provisions of this Agreement; and [PROPOSER TO STATE if IT WILL INCLUDE ANCILLARY SERVICES FROM THE OFF-ISLAND GENERATOR]
WHEREAS, Buyer intends to utilize such Dedicated Capacity, Contract Energy, and Ancillary Services and Buyer Firm Transmission Capacity to meet the needs of its electric customers.
NOW, THEREFORE, for and in consideration of the premises, the mutual promises and agreements set forth herein and other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, Buyer and Seller, each intending to be legally bound, agree as follows.