Castries, September 25, 2019; Managers of electric utilities and legal personnel serving the sector in the region are gearing up for a workshop on Negotiating of Financeable Power Purchase Agreements (PPA) for Renewable Energy. The Caribbean Electric Utilities Corporation (CARILEC) will run a two-day workshop on this topic in St. Kitts/ Nevis from the 3rd – 4th October 2019 at the St. Kitts Marriott. A PPA is a contract between an electric power seller and electric power buyer which defines all of the commercial terms for the sale of electricity between the parties, including the timeline for commercial operation, schedule for delivery of electricity, penalties, payment terms and termination.
According to CARILEC’s Training Manager Laurena Primus, the PPA training workshop will orient utility personnel to the necessary steps and requirements in preparing for and negotiating a viable PPA, with a detailed examination of the key issues from the perspectives of the developer, counsel and utility company. Ms. Primus noted that there are key terms specific to different renewable energy sources with which utility leaders and PPA negotiators need to be familiar to be able to tailor the PPA to the type of renewable energy, as well as strategies for effectively negotiating the agreement. “Whether the utility is considering solar, wind, biomass, renewable natural gas or other forms of distributed energy, the key legal agreement between the parties is the PPA, which forms the foundation of the agreement for the developer to provide energy and the utility to procure that power”, Ms. Primus explained.
CARILEC’s Executive Director Dr. Cletus Bertin described the theme and timing of the workshop as “delivering on CARILEC’s strategic objective to act as a catalyst for the adoption of green and innovative business models for energy solution providers”. With global commitment to reduce overdependence on fossil fuels and transition to renewable alternatives, CARILEC maintains its role as a catalyst for change in the sector by making opportunities available for members and stakeholders to adopt the latest technologies and opportunities in the fields of energy solutions. “Because PPAs typically last 15 to 25 years, it is critical to provide a clear recitation of the parties’ legal obligations, but also provide a measure of flexibility to account for likely changes to the regulations, environment and parties over that timeframe”, Dr. Bertin explained.
Workshop facilitators will be bringing years of legal expertise and experience to the task. Miles L. Plaskett is an expert in corporate, municipal and project finance law, with an emphasis on renewable energy, infrastructure and development projects in the U.S., the U.S. Virgin Islands, the Caribbean and Latin America, Phyllis J. Kessler practices in the area of energy law, with a focus on the provision of electricity and gas through alternative sources, representing both providers and customers for energy services, and energy efficiency, Patrick L. Morand, an expert in energy regulatory law and renewable energy development serves a broad-based clientele of electric utilities, electric distribution companies, regional transmission organisations(RTSs), renewable energy developers and financial institutions before the Federal Energy Regulatory Commission (FERC) state public policy commissions and other federal and state agencies. The workshop also features experts from Duane Morris LLP, a law firm with more than 750 attorneys in offices across the United States and internationally known for their track record in providing clients with innovative solutions to today’s legal and business challenges.
About CARILEC:
The Caribbean Electric Utility Service Corporation (CARILEC) is an association of energy solution providers and other stakeholders operating in the electricity industry in the Caribbean. CARILEC was established in 1989 with nine (9) members as part of an electric utilities modernization project funded by USAID and implemented by NRECA under a five-year “Co-operative Agreement.” Currently, CARILEC comprises a total of one hundred and seventeen (117) members. This includes thirty-four (34) Full Members that are electric utilities, and over eighty (80) Associate and Affiliate Members that are companies involved in some aspect of servicing the electric utility business.
For more information contact:
Alana T. Raymond
Manager, Marketing and Member Services
Phone: 758 452 0141/0
Email: [email protected]
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Disclaimer: This article was posted in its entirety as received by SKN PULSE. This media house does not correct any spelling or grammatical errors within press releases and or commentaries. The views contained within are not necessarily those of SKN PULSE.
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