PPA definition
Examples of PPA in a sentence
To provide a context concerning the relationship between federal requirements and the Performance Partnership Agreement (PPA), the following are some examples of federal requirements outside the PPA.
These requirements are outside the PPA either because they are outside the scope of the PPA (for example, Clean Water Act State Revolving Fund) or have not been restated in the PPA because they are required in an existing formal source (law, regulation, delegation agreement, etc.) and have not become part of the PPA strategic discussion.
Up until the time the system begins producing electricity, the developer may terminate the PPA for any reason.
After the sixth year of the PPA, if the price the developer receives for Solar Renewable Energy Certificates (SRECs) is above $450 per SREC, the Town will received 25% of the price above $450.
If the Town’s actions under the PPA cause harm to a third party and that party sues the developer, the Town – to the extent permitted by law – will pay the claims and attorney’s fees resulting from the lawsuit, if the harm was caused by gross negligence or willful misconduct of the Town or a Town default.