EFET and RE-Source publish the standard Corporate Power Purchase Agreement
The European Federation of Energy Traders (EFET) and RE-Source Platform are pleased to announce the publication of the standard Corporate Power Purchase Agreement (CPPA).
This is the first standard CPPA valid for all European countries to bring down transaction costs and facilitate the negotiation process. The standard CPPA had been widely circulated across the industry (energy buyers and suppliers), law firms, advisors and a number of lenders have confirmed its bankability.
The standard CPPA allows for both physical and financial PPAs with the proven Election Sheet approach allowing for flexible tailoring of the PPA to the needs of the companies involved. The agreement will be supported by legal opinions in key jurisdictions, as well as translated into other EU languages to ease its uptake across Europe.
You can find the EFET standard CPPA template here.
The EFET CPPA was well-received by both sides and especially by innogy’s in-house legal advisors. It was the perfect starting point for the contracting phase and therefore it saved us a lot of time. Also I am proud that because of this EFET CPPA, there was no need to make use of external law firms to draft a new agreement. Deviations from the template were very limited during the contracting process. Our experience was therefore very positive and expect it to use it again for the next European PPA.
Roland Kok – Head of Customer Solutions – Innogy SE