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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Energy

Date & Time
  • event Date

    Wednesday, July 26, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE course will guide counsel to companies involved in renewable energy projects to identify and understand the critical terms and effectively negotiate and structure power purchase agreements (PPAs). The panel will discuss key provisions of PPAs for buyers and sellers, highlight the differences between corporate and traditional PPAs, discuss pitfalls to avoid, and offer practical methods to allocate risks and benefits in long-term contracts.

Faculty

Eric L. Christensen
Principal
Beveridge & Diamond PC

Mr. Christensen is one of the Pacific Northwest’s leading energy and natural resources attorneys. His practice focuses on assisting both emerging energy and clean tech companies and traditional energy companies navigate the complex legal and regulatory systems governing the nation’s energy industry. With more than 27 years of experience, Mr. Christensen has successfully represented clients in complex litigation and regulatory matters, ranging from the U.S. Supreme Court to major proceedings before federal and state agencies. In addition, he has successfully guided clients through major transactions involving, for example, renewable and traditional energy facilities, complex energy and derivatives trades, brownfields redevelopment, engineering and construction services, early-stage and traditional financing, risk management, and government grants and tax incentives.

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William H. Holmes
Partner
K&L Gates, LLP

Mr. Holmes focuses his practice in the area of energy and infrastructure projects and transactions with an emphasis on wind energy, solar energy, hydroelectric power, geothermal, biomass, natural gas, carbon offsets, and energy storage. His experience extends into corporate transactions, water law, and real estate law. Mr. Holmes also advises clients in negotiating major power purchase agreements, acquisition and sale of energy projects, EPC agreements, O&M agreements, fuel supply, and energy project development agreements.

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Darin M. Lowder
Partner
Foley & Lardner LLP

Mr. Lowder is a partner and member of the firm’s Finance Practice. Although his practice extends to all aspects of business law, he currently focuses his practice on energy, project finance, project development, and related tax and public financing. He is also a member of the firm's Energy Industry Team. He has experience with numerous project technologies including commercial, utility-scale, and residential-scale solar photovoltaic systems; onshore and offshore wind development; biomass and biofuel projects; and other energy and alternative energy technologies.

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Description

The PPA is an intricate component of renewable energy projects. Given the current regulatory and legislative environment and heightened construction risks related to potential coronavirus-related delays, the thoughtful negotiation of long-term PPAs is integral to obtaining project financing.

A PPA must address the current regulatory environment and contain anticipatory language to capture future regulatory regimes. The agreement must also include fundamental commercial terms and meet renewable portfolio standards and renewable energy targets now in effect in most states.

Counsel to companies developing or negotiating PPAs must understand the key terms and provisions and variations on the PPA geared to different renewable energy sources, new energy storage technologies, and new hybrid projects. It is also important to address the risk of change in law and changes in the market and to understand common PPA structures, such as the physical PPA, virtual PPA, and green tariff PPA.

Listen as our authoritative panel experienced in PPA negotiations discusses the key terms, risk mitigation strategies, adapting the PPA to the type of renewable energy, and strategies for effectively negotiating and structuring the agreement. The panel will review key provisions of PPAs for buyers and sellers, highlight the differences between corporate and traditional PPAs and pitfalls to avoid, and offer practical methods to allocate risks and benefits in long-term contracts, including the impact of recent state-level construction restrictions and other potential related delays.

Outline

  1. Key provisions of a PPA
  2. Key terms
    1. For buyer
    2. For seller
  3. PPAs for different types of renewables and hybrid projects
  4. Strategies for negotiation

Benefits

The panel will review these and other key issues:

  • What are the critical provisions of PPAs for buyers and sellers?
  • What are the features of different types of renewable energy and hybrid configurations that must be considered when negotiating the PPA?
  • How do "corporate" PPAs (including contracts for differences) differ from traditional PPAs?
  • What approaches can parties and counsel use to allocate risks and benefits in the long-term contract?