How do power purchase agreements work?
An example of an AI chatbot conversation about power purchase agreements and their functioning.
Can you explain what a power purchase agreement is?
Sure! A power purchase agreement (PPA) is a contract between a power producer and a buyer, typically for the sale of electricity.
How does a PPA benefit both parties?
PPAs provide price stability for buyers and guaranteed revenue for producers, making it easier to finance renewable energy projects.
What are the typical terms of a PPA?
Typically, PPAs last from 10 to 25 years and include details on pricing, delivery, and performance guarantees.
Are there any risks involved in a PPA?
Yes, risks include market price fluctuations, regulatory changes, and the performance of the energy project.
Can you give me an example of a successful PPA?
Certainly! One notable example is the PPA between Google and several solar farms, which helped them achieve 100% renewable energy.
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