Negotiating Commercial Terms and Mitigating Risks in Virtual Power Purchase Agreements in The United States
Kingsley Osei, Lead Project Counsel, New York State Large Renewable Energy Consortium, USA
In 2019, commercial and industrial purchasers (C&I), particularly in the United States (U.S.), signed record renewable energy deals with third-party developers through power purchase agreements. Worldwide contracts that were signed from January to June totalled 8.6 GW (up from 7.2 GW) during the same period in 2018. C&I deals are often packaged as new build projects bundled with renewable energy credits ("R.E.C.s”) or unbundled R.E.C.s only transactions procured from third party-owned renewable energy projects.
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