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57 Alta. L. Rev. 389 (2019-2020)
#HowToPPA: An Examination of the Regulatory and Commercial Challenges and Opportunities Arising in the Context of Private Power Purchase Agreements for Renewable Energy

handle is hein.journals/alblr57 and id is 389 raw text is: #HowToPPA 389 #HOwTOPPA: AN EXAMINATION OF THE REGULATORY AND COMMERCIAL CHALLENGES AND OPPORTUNITIES ARISING IN THE CONTEXT OF PRIVATE POWER PURCHASE AGREEMENTS FOR RENEWABLE ENERGY SIMON BAINES, SHAUN WRUBELL, JESSICA KENNEDY, COURTNEY BOHN, AND CASSIE RICHARDS* In recent years, private companies in the United States have increasingly entered into power purchase agreements (PPAs) to procure renewable power from project developers. However, despitefavourable market and regulatory regimes for the use of PPAs in Alberta, renewable energy procurement has largely remained the purview of government. To facilitate the increased use of private PPAs in Canada, this article seeks to provide potential renewable energy project developers and customers with a better understanding of how these agreements operate. The authors 'demystify' PPAs by reviewing the regulatory structuresfor PPAs in Alberta, analyzing thefactors that might motivate parties to enter into a PPA, and discussing the key contractual terms common to most PPAs. TABLE OF CONTENTS I. INTRODUCTION ............................................. 390 II. W HAT IS A PPA ? ........................................... 390 III. GROWTH OF THE PRIVATE PPA IN THE UNITED STATES .............. 391 IV. THE PPA POSITION IN CANADA ................................ 393 V. ALBERTA REGULATORY REGIME ................................. 395 VI. W HY ENTER INTO A PPA? .................................... 398 VII. KEY TERMS OF A PPA ....................................... 401 A . SUBJECT M ATTER ...................................... 401 B. PRICE AND TERM ....................................... 403 C. CREDITWORTHINESS .................................... 404 D. AVAILABILITY AND CURTAILMENT RISK ...................... 406 E. CHANGE OF LAW ....................................... 407 V III. CONCLUSION .............................................. 410 ShaunWrubell is the Vice President, General Counsel, and Corporate Secretary at BluEarthRenewables, a leading, independent power producer that acquires, develops, builds, owns, and operates wind, hydro, and solar facilities across North America. Shaun manages the company's overall legal function and assists with corporate governance, acquisitions, partnership agreements, market expansion, and risk management. SimonBaines is aPartner at Osler, Hoskin & Harcourt LLP specializing in corporate and commercial matters relating to the natural resource and renewable energy industries. Jessica Kennedy and Cassie Richards are Associates at Osler, Hoskin & Harcourt LLP specializing in regulatory matters applicable to power producers, resource developers, and industrial facilities. Courtney Bohn is an Associate at Blake, Cassels & Graydon LLP specializing in corporate finance and securities matters.

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