Power Purchase Agreement for Off-site Renewable Electricity

Tender description

The City of London Corporation (The City) is seeking to enter into an offsite Power Purchase Agreement (PPA) with a renewable energy project owner and operator (The Developer), from which the City purchases all (or an agreed proportion) of the power generated at an agreed fixed price for the duration of the contract, indexed annually to CPI, along with renewable energy benefits. The project, or portfolio of projects, should not be fully operational before the PPA is signed, expected to be July 2020, and must be located in Great Britain (i.e. excluding Northern Ireland) and should expect to deliver through the PPA on average c.35-55 GWh per annum, with P50 outputs near to 45 GWh per annum preferred. This could be from a single generation asset, several assets, or a proportion of a larger asset. The Developer shall commit to minimum delivery requirements for project availability. Project(s) with CODs between August 1st 2020 – March 31st 2021 could become fully operational after the PPA is signed and sell to the market before the PPA is due to start on or after 1st April 2021. The contract structure will be a ‘pay-as-produced’ sleeved ('physical') PPA with an availability guarantee provided by the Developer, for the supply of onshore wind power or solar power only, with an existing utility supplier providing the sleeving services (The Sleeving Supplier). Please see attached OJEU notice for further information.