Energy Attributes definition
Examples of Energy Attributes in a sentence
Of Renewable Energy Attributes The QS retains any and all rights to own and to sell any and all environmental attributes associated with the electric generation of the Facility, including but not limited to, any and all renewable energy certificates, “green tags” or other tradable environmental interests (collectively “RECs”), of any description.
Seller agrees that in addition to representing the attributes and characteristics under the Tracking System’s operating rules and requirements, the Certificate will also represent the REC, Renewable Energy Attributes, and REA Reporting Rights as defined in this Agreement.
Lessor and Lessee acknowledge and agree that (a) Lessee owns and has title to the Solar Facility, (b) Lessee owns the electricity generated by the Solar Facility, (c) Lessee owns all of the Renewable Energy Attributes appertaining thereto, (d) no component of the Solar Facility shall become a fixture, notwithstanding the manner in which the Solar Facility is or may be attached to any real property of the Lessor.
For the avoidance of doubt, as set forth in Section 3.6, Duke Carolinas shall not be required to purchase any Energy or Renewable Energy Attributes that are associated with any additional generation capacity which exceeds or is beyond 10% of the nameplate capacity set forth in Exhibit 1.
For the avoidance of doubt, the foregoing shall not affect Seller’s ability to use any renewable energy attributes that, for purposes of this Agreement, are not considered to be Renewable Energy Attributes.
Upon Delivery, all of Seller’s right, title, and interest in and to the RECs, in addition to all of the Renewable Energy Attributes associated with the generation of Energy of the Facility that is otherwise represented by the REC, will pass to Duke Carolinas.
In the event that, as a result of Government Action or other legislative, administrative, voluntary, mandatory, or regulatory process, the Facility may generate only carbon offsets or RECs, but not both, then Seller shall take, or cause to be taken, such action as necessary to ensure that Renewable Energy Attributes and RECs sufficient to fulfill its obligations under this Agreement are produced from the Facility and the underlying fuel used to generate the Energy.
Upon reasonable request by Duke Carolinas, and at Duke Carolinas’ cost, Seller shall use Commercially Reasonable Efforts to cooperate with Duke Carolinas to obtain such certification, verification or other registration under such Applicable Program, which cooperation shall also include, but not be limited to, such actions as required to effectuate Delivery of such Renewable Energy Attributes in the form of whatever transfer indicia is provided under the Applicable Program.
Notwithstanding any provision of this Agreement, (i) Duke Carolinas shall have no responsibility whatsoever for any costs (including financing) necessary or desirable for the development, construction, operation, or maintenance of the Facility, which shall be entirely at Seller’s sole cost and expense; and (ii) any risk as to the availability of any attributes not included in the Renewable Energy Attributes shall be borne entirely by Seller.
Duke Carolinas shall be responsible for certification, verification or any other registration obligation and associated costs that may be required for the unitization, regulation, certification and verification of the Renewable Energy Attributes under any Applicable Program other than the REPS.