Topic:"Power Purchase Agreement" in M13042

Application for Approval of the Green Choice Program Power Purchase Agreement ("PPA") Under the Renewable Electricity Regulations ("Application") Prepared for: Nova Scotia Energy Board August 17, 2026 Submitted by: Procurement Administrato...

AI summary This document is an application for the approval of the Green Choice Program Power Purchase Agreement under the Renewable Electricity Regulations, submitted to the Nova Scotia Energy Board on August 17, 2026 by the Procurement Administrator through Power Advisory.

The Procurement Administrator is making this filing ("Application") to the Nova Scotia Energy Board ("the Board") to seek its approval for the standard form power purchase agreement ("PPA") for the Green Choice Program set out in Appendix...

AI summary The Procurement Administrator is seeking approval for a standard form power purchase agreement for the Green Choice Program, similar to one previously approved by the Board in Matter M11455. A blackline showing changes from the previously approved PPA is included in the filing.

1. INTRODUCTION The Green Choice Program is established under Section 30 of the Electricity Act , SNS 2004, c 18("Act ") was established to provide a means for electricity consumers to purchase renewable low -impact electricity and to prom...

AI summary The Green Choice Program, established under the Electricity Act, allows consumers to purchase renewable low-impact electricity. Power Advisory LLC was appointed as the procurement administrator for a two-year term. The filing requests the Board's approval of the Green Choice Program Power Purchase Agreement (GCP PPA) as part of its procurement process.

2. OVERVIEW OF THE PPA Th e GCP PPA is based on the Green Choice Program PPA approved by the Board in Matter M11455, dated May 28, 2024 ("202 4 Board -approved PPA") . Draft #1 of the PPA ("PPA Draft #1") was posted to the PA procurement w...

AI summary The Green Choice Program Power Purchase Agreement (GCP PPA) is based on a 2024 Board-approved PPA and was informed by stakeholder feedback on a draft version. The PPA involves Nova Scotia Power Inc as counterparty and outlines the terms for energy production and Renewable Energy Credits. The agreement is similar to the 2024 PPA but includes changes based on the RFP and feedback.

3. REQUEST FOR PROPOSALS The PA intends to conduct the procurement in accordance with Section s 27, 28 and 29 of the Electricity Act and sections 35 (A), 35(B) (1)(2), 35(C) of the Renewable E lectricity Regulations and will ensure the pro...

AI summary The PA is conducting a Request for Proposal (RFP) to procure renewable electricity in accordance with the Electricity Act and Renewable Electricity Regulations. The RFP aims to select proposals that provide the best value for ratepayers, with specific requirements for project size, location, and submission. Proposals will be evaluated in five stages, with scoring based on energy rate, project risk, public engagement, and social and economic benefits. Selected proponents will be offered a Green Choice Program Power Purchase Agreement (GCP PPA).

4. REQUEST OF THE BOARD In this Application, we request that the Board review and approve the terms and conditions of the GCP PPA contained in Appendix A on an expedited basis. We request authority to make non substantive changes to the GC...

AI summary The application requests the Board to expedite the approval of the GCP PPA and authorize non-substantive changes post-approval. NSPI is determining curtailment payment frequency and will seek authorization to adjust the PPA accordingly. Notice will be provided to registered parties and posted on the procurement website.

5. SUPPORTING DOCUMENTATION In support of this Application, please find enclosed a complete copy of the GCP PPA in Appendix A. A blackline of the GCP PPA to the 202 4 Board -approved PPA is included in Appendix B. PPA Draft #1 is included...

AI summary The document provides supporting documentation for a Power Purchase Agreement (PPA) application, including the GCP PPA, a blackline comparison to a previous PPA, draft versions, and stakeholder feedback. The applicant offers to provide further information to assist the Board in its review.

GREEN CHOICE PROGRAM POWER PURCHASE AGREEMENT FOR RENEWABLE ENERGY This Power Purchase Agreement is entered into as of ⚫, 20⚫, between: Nova Scotia Power and [Insert name and address of Seller] ("Seller") Incorporated 1223 Lower Water Stre...

AI summary This document outlines a Power Purchase Agreement (PPA) between Nova Scotia Power and a Seller for renewable energy. The PPA includes terms for notices, payments, and conditions based on the Seller's proposal, including certification of generating technology and project ownership structure.

- Nameplate Capacity of Facility: ⚫; - Energy Rate: ⚫ ($/MWh); - Energy Bid: ⚫ (MWh/year); - Not Used - Scheduled Commercial Operation Date: ⚫; - Pre-COD Amount $35,000 multiplied by the number of megawatts of Nameplate Capacity of the Fac...

AI summary The document outlines the terms and conditions of a project agreement, including details about nameplate capacity, energy rates, scheduled commercial operation dates, and financial incentives. It also mentions the ownership structure of the project, including potential Mi'kmaq involvement, and references various exhibits and appendices that form part of the agreement.

1.1 Definitions In addition to the terms defined elsewhere in this Agreement, capitalized terms shall have the meanings ascribed to them below: Accounting Standards for Private Enterprises or ASPE - means the Accounting Standards for Priva...

AI summary This section defines key terms used in the Power Purchase Agreement, including accounting standards, interconnection equipment, affiliate relationships, and ancillary services, providing clarity on terminology used throughout the document.

or which is reasonably expected to be available in the market under a replacement contract for the Agreement that, in each case, does not include replacement of the Renewable Attribute Loss), exceeds - (ii) the Present Value for the Shortf...

AI summary The text defines key terms related to a power purchase agreement, including 'Participant,' 'Participating Interest,' 'Party,' and 'Performance Security.' It outlines the process for determining market pricing for replacement contracts and the conditions for calculating a Partial Termination Payment.

2.5 Scheduled Date for Commercial Operation - (a) The Seller agrees to obtain Commercial Operation of the Facility by the Scheduled Commercial Operation Date; however, for greater certainty, if the Seller has failed to obtain Commercial Op...

AI summary The Seller is required to achieve Commercial Operation of the Facility by the Scheduled Commercial Operation Date. If this fails, NSPI has the right to extend the Term, and the Seller may also request an extension. Failure to meet the deadline results in liquidated damages of $150 per megawatt of Nameplate Capacity for each day of delay, with a maximum of 365 days.

2.6 NSPI Information During Design and Construction By the fifteenth day of each quarter of the Fiscal Year following the Effective Date and continuing until Commercial Operation, the Seller shall provide NSPI with quarterly progress repor...

AI summary NSPI requires the Seller to provide quarterly progress reports on design and construction efforts, including updates on meeting the Scheduled Commercial Operation Date. NSPI may request meetings and site access to verify progress, at its own risk and expense, during normal business hours.

4.1 Required Sale and Delivery of Energy - (a) Subject to, and in accordance with, the terms and conditions of the Agreement, the Seller shall sell and deliver to NSPI and NSPI shall purchase and take delivery at the Delivery Point, the en...

AI summary The text outlines the Seller's obligation to sell and deliver the entire Net Output of the Facility to NSPI, including during the Interim Period, free of liens. The Seller must ensure the Facility can generate an average yearly Net Output not less than the Original Energy Bid and may restate the bid under certain conditions with associated liquidated damages.

4.2 Acceptance of Energy (a) Subject to, and in accordance with, the terms and conditions of the Agreement, NSPI shall purchase and take the entire Net Output of the Facility (including the entire Net Output during the Interim Period), pro...

AI summary NSPI is required to purchase the entire Net Output of the Facility, with the ability to suspend this obligation under certain conditions. If NSPI fails to take or purchase Net Output, the Seller's exclusive remedy is a claim for the price that would have been payable. Compensation for foregone Expected Output due to curtailment is governed by provisions of the Electricity Act.

5.2 Ancillary Services If NSPI or the System Operator requests or directs the Seller to provide Ancillary Services (other than those Ancillary Services required to be provided by the Facility pursuant to the terms of this Agreement, or by...

AI summary This section outlines the process for negotiating the provision of Ancillary Services by the Seller when requested by NSPI or the System Operator. It specifies that any disputes or failure to reach an agreement will be resolved through the dispute resolution procedures in Article 14. The provision of Ancillary Services governed by other documents will take precedence, and no additional payment will be made unless explicitly stated.

6.1 Performance Security - (a) The Seller shall maintain Performance Security throughout the Term as follows: - (i) The Seller shall be obligated to provide to and maintain with NSPI Performance Security in the amount of the Pre-COD Amount...

AI summary The document outlines the requirements for maintaining and returning Performance Security by the Seller to NSPI throughout the term of the agreement, including conditions for its return after Commercial Operation and at the end of the Term or early termination.

9.1 Term - (a) The Agreement shall become effective upon the Effective Date. - (b) Without prejudice to the provisions of the Agreement which pertain to that period prior to the commencement of the Term, the Term shall commence on the Comm...

AI summary The text outlines the terms of a power purchase agreement, including its effective date, term duration, and provisions for renegotiating the agreement 18 months prior to its expiration. If a new agreement is not reached, the seller may contract with another party for energy sales.

FORM OF CONFIDENTIALITY UNDERTAKING TO: [⚫] [Note to finalization: Add the Counterparty, as defined below] RE: Power Purchase Agreement between ⚫ (the " Disclosing Party ") and ⚫ (the " Counterparty ") dated as of ⚫ (the " Contract ") [Not...

AI summary This document outlines a confidentiality undertaking related to a Power Purchase Agreement between the Disclosing Party and the Counterparty. It requires the Recipient to maintain the confidentiality of disclosed information in accordance with the terms specified in Article 8 of the Contract.

RECITALS: - A. The Seller and NSPI have entered into a power purchase agreement dated as of ⚫, 202⚫ (as amended, supplemented, restated or replaced from time to time in accordance with its terms and this agreement, the " PPA ") in order to...

AI summary The document outlines a power purchase agreement (PPA) between the Seller and Nova Scotia Power Inc. (NSPI) for the development and operation of a project, along with security agreements provided by the Seller to the Security Agent as collateral for the Secured Debt. The terms and conditions of the PPA and related financial arrangements are detailed.

1. Defined Terms Unless otherwise provided in this agreement or the context otherwise requires, all capitalized terms which are not defined in this agreement have the respective meanings given to them in the PPA.

AI summary This section defines terms used in the agreement, referencing the Power Purchase Agreement (PPA) for meanings of capitalized terms not otherwise defined in the agreement.

2. Acknowledgement and Confirmation of Rights of Security Agent NSPI acknowledges and confirms that: - (a) the Seller has delivered to NSPI copies of the Security Agreements [Note to finalization: and any applicable trust indenture] ; - (b...

AI summary NSPI acknowledges and confirms the delivery of Security Agreements and their role as Project Lender Security Agreements under the PPA. The Security Agent is recognized as the Project Lender and is entitled to enforce the provisions of Article 12 of the PPA.

3. Covenants of the Security Agent The Security Agent covenants and agrees with NSPI (and in the case of paragraphs (a), (d), and (g) below, covenants, agrees, represents and warrants to NSPI) as follows: - (a) Should the Security Agent co...

AI summary This section outlines the covenants of the Security Agent in relation to the PPA and NSPI. It includes obligations such as compliance with PPA terms, maintaining arm's length status, and providing notice of defaults or changes in identity and address.

4. Covenants of the Seller The Seller covenants, agrees, represents and warrants to NSPI as follows: - (a) The Security Agreements [Note to finalization: and any applicable trust indenture] are subject to the terms and conditions applicabl...

AI summary The Seller makes several covenants to NSPI, including compliance with the PPA's Security Agreement terms, provision of true and complete copies of Security Agreements, and ensuring that all Secured Debt is related to the Project's development and operation.

5. Covenants of NSPI NSPI represents and warrants to the Security Agent as of the date hereof: - (a) The PPA is in full force and effect and the PPA has not been assigned by NSPI and NSPI has not received any notice of transfer or assignme...

AI summary NSPI makes several warranties regarding the Power Purchase Agreement (PPA) with the Seller, including that the PPA is in full force and effect, there are no defaults by the Seller, and the PPA has not been amended except as noted.

8. Successors and Assigns Subject to complying with Sections [12.1(e),](#page-59-2) 16.2 and 16.3 of the PPA, and in the case of the Seller, Section 16.4 of the PPA, the benefits under this agreement accruing to each of the parties to this...

AI summary This section outlines the conditions under which the benefits and obligations of the PPA extend to successors and permitted assigns of the parties. It requires that successors and assigns agree to be bound by the agreement and that they enter into a supplementary agreement with NSPI and the Seller.

9. Termination - (a) NSPI's obligations hereunder shall terminate on the first to occur of (i) the termination or expiration of the PPA in accordance with its terms, or (ii) all indebtedness of the Seller, in connection with the Project fi...

AI summary The termination clause outlines conditions under which NSPI's obligations under the agreement end, including the termination or expiration of the PPA or the full satisfaction of the Seller's indebtedness. The agreement also terminates if the Security Agent assigns its rights under the PPA.

FORM OF LETTER OF CREDIT DATE OF ISSUE: [⚫] APPLICANT: [Legal Name of Applicant] (the "Applicant") [Address of Applicant] BENEFICIARY: Nova Scotia Power Incorporated and its permitted assigns (the "Beneficiary") P.O. Box 910 Halifax, NS B3...

AI summary This document outlines the form of an irrevocable and unconditional standby letter of credit issued by a financial institution in connection with a power purchase agreement between Nova Scotia Power Incorporated and the Seller. The letter of credit is governed by the terms of the agreement and includes details such as the applicant, beneficiary, amount, expiry date, and credit rating.

- A. NSPI and [insert name of Seller] (" Seller ") have entered into the Green Choice Program Power Purchase Agreement for Renewable Energy dated as of [ ⚫ ] (the " Agreement "); - B. Pursuant to the terms of the Agreement, the Guarantor i...

AI summary This document outlines a Power Purchase Agreement (PPA) between Nova Scotia Power Inc. (NSPI) and a seller, with the Guarantor agreeing to provide a guarantee for the seller's payment obligations under the agreement. The Guarantor deems it in its best interest to provide this guarantee.

SCHEDULE A GREEN CHOICE PROGRAM POWER PURCHASE AGREEMENT FOR RENEWABLE ENERGY Between NOVA SCOTIA POWER INCORPORATED And [Insert name of Seller] GREEN CHOICE PROGRAM POWER PURCHASE AGREEMENT FOR RENEWABLE ENERGY Between NOVA SCOTIA POWER I...

AI summary This document outlines a Power Purchase Agreement (PPA) for renewable energy under the Green Choice Program between Nova Scotia Power Incorporated and an unnamed seller. It establishes the terms for purchasing renewable energy from the seller.

GREEN CHOICE PROGRAM POWER PURCHASE AGREEMENT FOR RENEWABLE ENERGY This Power Purchase Agreement is entered into as of ⚫, 20⚫, between: Nova Scotia Power and [Insert name and address of Seller] ("Seller") Incorporated 1223 Lower Water Stre...

AI summary This document outlines a Power Purchase Agreement (PPA) between Nova Scotia Power and a potential Seller for renewable energy. Key elements include the agreement's structure, terms, and conditions, with specific sections to be populated based on the Seller's Proposal. The document also references certification and ownership points from the Request for Proposals.

EXECUTED by the Parties the day and year first above written. NOVA SCOTIA POWER INCORPORATED [INSERT NAME OF SELLER] By: By: Name: Name: Title: Title: By: By: Name: Name: Title: Title: I/We have the authority to bind the corporation. I/We...

AI summary This document outlines the execution of a Power Purchase Agreement (PPA) between Nova Scotia Power and a seller, with general terms and conditions included. The agreement involves binding commitments from both parties.

1.1 Definitions In addition to the terms defined elsewhere in this Agreement, capitalized terms shall have the meanings ascribed to them below: Accounting Standards for Private Enterprises or ASPE - means the Accounting Standards for Priva...

AI summary This section defines key terms in the Power Purchase Agreement, including accounting standards, interconnection equipment, affiliate relationships, and ancillary services, providing clarity on the agreement's structure and scope.

Threshold Amount, in each case as set out in this Agreement. Contract Energy – means the Energy Bid for each Contract Year during the Remaining Term assuming no material variability in monthly generation and delivery and applying a reasona...

AI summary The document defines key terms related to a power purchase agreement, including 'Threshold Amount,' 'Contract Energy,' 'Contract Year,' 'Control,' and 'CPI.' These definitions are critical for understanding the obligations and calculations under the agreement, particularly in relation to energy delivery, ownership, and inflation adjustments.

Early Completion Incentive – has the meaning given to it in Section 5.1(a)(iv). Early Termination Date – means the date of termination of the Agreement prior to the end of the Term. Early Termination Payment – means an amount, that will no...

AI summary The document defines key terms related to an Early Completion Incentive, including Early Termination Date, Early Termination Payment, and Effective Date. It outlines the calculation of Early Termination Payment, which includes Termination Costs, Renewable Attribute Loss Rate, and Present Value calculations based on market pricing and Energy Rate.

measures replace the Contract Energy or any portion thereof with renewable energy from a renewable energy generation facility with an Electricity Standard Approval), plus the amount (if any) by which: - (i) the Present Value for the Shortf...

AI summary The text outlines the calculation of a Partial Termination Payment in the event of replacing Contract Energy with renewable energy, including considerations for market pricing and mitigative measures. It also defines key terms such as 'Participant,' 'Participating Interest,' 'Party,' and 'Performance Security Default.'

2.1 Design and Construction of the Project (a) The Seller shall perform, or cause to be performed, all activities necessary to complete the design, construction and commissioning of the Project at the Site using Good Utility Practice and i...

AI summary The Seller is required to design, construct, and commission the Project in accordance with Good Utility Practice, applicable laws, and the Agreement, ensuring Commercial Operation by the Scheduled Commercial Operation Date and proper performance throughout the Term.

extent that the Seller has received an extension pursuant to this Section 2.2(a), the Seller shall not be entitled to claim a further extension under Section 11 in respect of the same delay for which the extension was granted under this Se...

AI summary This section outlines the transfer of property and risk for energy delivered to NSPI, the responsibility for transmission costs, and the conditions for submitting an Interconnection Request under the Congestion Management Alternative.

2.5 Scheduled Date for Commercial Operation - (a) The Seller agrees to obtain Commercial Operation of the Facility by the Scheduled Commercial Operation Date; however, for greater certainty, if the Seller has failed to obtain Commercial Op...

AI summary The agreement outlines the Seller's obligation to achieve Commercial Operation of the Facility by the Scheduled Commercial Operation Date, with provisions for extending the Term, liquidated damages for delays, and requirements for quarterly progress reports to NSPI.

2.7 Equipment Certification - (a) The Seller confirms that the Generating Technology has been Certified or has commenced the process of being Certified and will be Certified on or prior to the Scheduled Commercial Operation Date. - (b) If...

AI summary The text outlines requirements for equipment certification of generating technology under a Power Purchase Agreement (PPA). It specifies that the Seller must ensure the technology is certified by the Scheduled Commercial Operation Date, with financial penalties if certification is not achieved. It also addresses the payment of any Local Benefits Shortfall to NSPI.

4.1 Required Sale and Delivery of Energy - (a) Subject to, and in accordance with, the terms and conditions of the Agreement, the Seller shall sell and deliver to NSPI and NSPI shall purchase and take delivery at the Delivery Point, the en...

AI summary This section outlines the obligations of the Seller under the Power Purchase Agreement (PPA) to deliver a minimum level of Net Output from the Facility to NSPI. The Seller may adjust the Original Energy Bid, but must pay liquidated damages if the adjusted bid results in a shortfall.

4.2 Acceptance of Energy (a) Subject to, and in accordance with, the terms and conditions of the Agreement, NSPI shall purchase and take the entire Net Output of the Facility (including the entire Net Output during the Interim Period), pro...

AI summary NSPI is obligated to purchase the entire Net Output of the Facility under the Agreement, subject to certain conditions. If NSPI fails to comply, the Seller's sole remedy is a claim for the price that would have been payable for the Net Output, calculated based on meter readings or reasonable assumptions, without duplicating other sections of the Agreement.

5.1 Energy Payment - (a) Subject to, and in accordance with, the terms and conditions of the Agreement: - (i) for Net Output during the Interim Period or Extension Period, NSPI shall pay the Seller the lower of: - (A) 75% of the Incrementa...

AI summary This section outlines the payment terms for Net Output and Excess Energy under the PPA, including different rates based on the period and conditions. It also mentions the Early Completion Incentive and billing procedures, including a note about curtailment payments being delayed.

6.1 Performance Security - (a) The Seller shall maintain Performance Security throughout the Term as follows: - (i) Within 10 Business Days of the Effective Date, the Seller shall provide NSPI Performance Security in the amount of the Pre-...

AI summary The text outlines the requirements for the Seller to maintain Performance Security throughout the Term, including the Pre-COD Amount and Post-COD Amount, as well as specific security requirements under different conditions such as the Forgo Network Upgrade and Reimbursement Alternative and Section 2.7(b)(ii).

9.1 Term - (a) The Agreement shall become effective upon the Effective Date. - (b) Without prejudice to the provisions of the Agreement which pertain to that period prior to the commencement of the Term, the Term shall commence on the Comm...

AI summary This section outlines the term of the Agreement, including its effective date, commencement and expiration dates, and provisions for extending or renegotiating the term. It also specifies NSPI's right to negotiate a new power purchase agreement 18 months prior to the end of the term.

FORM OF CONFIDENTIALITY UNDERTAKING TO: [⚫] [Note to finalization: Add the Counterparty, as defined below] RE: Power Purchase Agreement between ⚫ (the " Disclosing Party ") and ⚫ (the " Counterparty ") dated as of ⚫ (the " Contract ") [Not...

AI summary This document outlines a confidentiality undertaking between the Disclosing Party and the Recipient in relation to a Power Purchase Agreement. The Recipient agrees to keep Confidential Information confidential in accordance with the terms set out in Article 8 of the Contract.

FORM OF PROJECT LENDER AGREEMENT THIS AGREEMENT made as of this ⚫ day of ⚫, 20⚫, BETWEEN: [ ⚫ ] , [ insert legal form of the Seller and jurisdiction of organization ] (the " Seller "), - and - [ ⚫ ] , in its capacity as [ {Project Lender u...

AI summary This document outlines the form of a Project Lender Agreement between the Seller, the Security Agent, and Nova Scotia Power Incorporated (NSPI). The agreement is made as of a specific date and includes placeholders for legal forms, jurisdictions, and roles of the parties involved.

RECITALS: - A. The Seller and NSPI have entered into a power purchase agreement dated as of ⚫, 202⚫ (as amended, supplemented, restated or replaced from time to time in accordance with its terms and this agreement, the " PPA ") in order to...

AI summary The document outlines a power purchase agreement (PPA) between the Seller and NSPI for the development and operation of a project, along with security agreements provided by the Seller to secure its obligations under the PPA. The terms include the structure of collateral arrangements and secured debt.

1. Defined Terms Unless otherwise provided in this agreement or the context otherwise requires, all capitalized terms which are not defined in this agreement have the respective meanings given to them in the PPA.

AI summary The section outlines the defined terms in the agreement, specifying that capitalized terms not defined here will take their meanings from the PPA (Power Purchase Agreement).

2. Acknowledgement and Confirmation of Rights of Security Agent NSPI acknowledges and confirms that: - (a) the Seller has delivered to NSPI copies of the Security Agreements [Note to finalization: and any applicable trust indenture] ; - (b...

AI summary NSPI acknowledges and confirms the delivery of Security Agreements and their role as Project Lender Security Agreements under the PPA. The Security Agent is recognized as the Project Lender and is entitled to enforce the provisions of Article 12 of the PPA.

3. Covenants of the Security Agent The Security Agent covenants and agrees with NSPI (and in the case of paragraphs (a), (d), and (g) below, covenants, agrees, represents and warrants to NSPI) as follows: - (a) Should the Security Agent co...

AI summary The Security Agent agrees to comply with specific terms of the PPA when enforcing Security Agreements, including providing notice of defaults and adhering to Section 12.2 of the PPA. It also confirms its relationship with the Seller and outlines procedures for communication and enforcement.

4. Covenants of the Seller The Seller covenants, agrees, represents and warrants to NSPI as follows: - (a) The Security Agreements [Note to finalization: and any applicable trust indenture] are subject to the terms and conditions applicabl...

AI summary The Seller makes several covenants to NSPI, including compliance with the terms of the Project Lender's Security Agreement under the PPA, provision of true and complete copies of security agreements, and ensuring that all secured debt is related to the Project's development and operation.

5. Covenants of NSPI NSPI represents and warrants to the Security Agent as of the date hereof: - (a) The PPA is in full force and effect and the PPA has not been assigned by NSPI and NSPI has not received any notice of transfer or assignme...

AI summary NSPI makes several warranties regarding the PPA, including that it is in full force and effect, no defaults have occurred, and no amendments have been made except as noted. NSPI also asserts that all agreements related to the transaction are included in this agreement and the PPA.

8. Successors and Assigns Subject to complying with Sections [12.1(e),](#page-69-2) [16.2](#page-81-0) and [16.3](#page-83-0) of the PPA, and in the case of the Seller, Section [16.4](#page-84-0) of the PPA, the benefits under this agreeme...

AI summary This section outlines the conditions under which the benefits and obligations of the PPA extend to successors and permitted assigns of the parties, requiring their agreement to be bound by the agreement's provisions and the need for a supplementary agreement upon acquisition of an interest.

9. Termination - (a) NSPI's obligations hereunder shall terminate on the first to occur of (i) the termination or expiration of the PPA in accordance with its terms, or (ii) all indebtedness of the Seller, in connection with the Project fi...

AI summary The termination provisions outline conditions under which NSPI's obligations terminate, including the termination or expiration of the PPA or the full satisfaction of the Seller's indebtedness. Termination also occurs if the Security Agent assigns its rights under the PPA.

FORM OF LETTER OF CREDIT DATE OF ISSUE: [⚫] APPLICANT: [Legal Name of Applicant] (the "Applicant") [Address of Applicant] BENEFICIARY: Nova Scotia Power Incorporated and its permitted assigns (the "Beneficiary") P.O. Box 910 Halifax, NS B3...

AI summary This document outlines the form of a letter of credit issued by a financial institution for Nova Scotia Power Incorporated. It is connected to a power purchase agreement and includes fields for the applicant, beneficiary, amount, expiry date, and credit rating.

- A. NSPI and [insert name of Seller] (" Seller ") have entered into the Green Choice Program Power Purchase Agreement for Renewable Energy dated as of [ ⚫ ] (the " Agreement "); - B. Pursuant to the terms of the Agreement, the Guarantor i...

AI summary This document outlines a power purchase agreement between NSPI and a seller, with the guarantor agreeing to provide a guarantee for the seller's payment obligations under the agreement. The agreement is part of the Green Choice Program for Renewable Energy.

4. Notice All notices pertaining to this agreement shall be given in accordance with Section 16.7 of the PPA.

AI summary This section outlines the procedure for providing notices under the agreement, referencing Section 16.7 of the Power Purchase Agreement (PPA).

5. Successors and Assigns Subject to complying with Sections 16.2 and 16.3 of the PPA, and in the case of the Seller, Section 16.4 of the PPA, the benefits under this agreement accruing to each of the parties to this agreement will extend...

AI summary This section outlines the conditions under which the benefits of the agreement extend to successors and permitted assigns, requiring explicit agreement and notice between parties involved.

IN WITNESS OF WHICH , the parties have duly executed this agreement as of the date first written above. [SELLER] By: Name: ⚫ Title: ⚫ By: Name: ⚫ Title: ⚫ NOVA By: SCOTIA POWER INCORPORATED Name: ⚫ Title: ⚫ By: Name: ⚫ ⚫ Title: Not Used

AI summary This document outlines the execution of an agreement between the seller and Nova Scotia Power Incorporated, with placeholders for signatory details. The agreement is dated and signed by both parties, though specific terms and conditions are not detailed in the provided text.

GREEN CHOICE PROGRAM POWER PURCHASE AGREEMENT FOR RENEWABLE ENERGY This Power Purchase Agreement is entered into as of ⚫, 20⚫, between: Nova Scotia Power and [Insert name and address of Seller] ("Seller") Incorporated 1223 Lower Water Stre...

AI summary This document outlines a Power Purchase Agreement (PPA) between Nova Scotia Power and a Seller for the purchase of renewable energy. The agreement includes terms for payment, notice, and conditions based on the Seller's Proposal, including certification of generating technology and project ownership structure.

Term: Twenty-five (25) years; Site: ⚫; Nameplate Capacity of Facility: ⚫; Energy Rate: ⚫ ($/MWh); Energy Bid: ⚫ (MWh/year); Scheduled ⚫; Commercial Operation Date: Pre-COD Amount $35,000 multiplied by the number of megawatts of Nameplate C...

AI summary The document outlines the terms of a project including nameplate capacity, energy rates, bid amounts, commercial operation dates, pre and post COD amounts, transmission credits, equipment certification security, zone allocation, and ownership points. It also references the General Terms and Conditions as part of the Agreement.

EXECUTED by the Parties the day and year first above written. NOVA SCOTIA POWER INCORPORATED [INSERT NAME OF SELLER] By: By: Name: Name: Title: Title: By: By: Name: Name: Title: Title: I/We have the authority to bind the corporation. I/We...

AI summary The document outlines a Power Purchase Agreement (PPA) executed by Nova Scotia Power Incorporated and an unnamed seller, including general terms and conditions. It includes signature blocks with placeholders for names and titles, and a statement of authority to bind the corporation.

1.1 Definitions In addition to the terms defined elsewhere in this Agreement, capitalized terms shall have the meanings ascribed to them below: Additional Interconnection Equipment – means interconnection equipment from the Delivery Point...

AI summary This section defines key terms used in the Power Purchase Agreement, including definitions related to interconnection equipment, Affiliates, Automatic Generation Control, Ancillary Services, and the Annual Average Marginal Cost Rate, all of which are essential for understanding the agreement's structure and obligations.

measures replace the Contract Energy or any portion thereof with renewable energy from a renewable energy generation facility with an Electricity Standard Approval), plus the amount (if any) by which: - (i) the Present Value for the Shortf...

AI summary The text outlines measures to replace Contract Energy with renewable energy from a facility with an Electricity Standard Approval, including calculations for the Partial Termination Payment based on market pricing and replacement contracts. It also defines key terms such as 'Participant,' 'Participating Interest,' 'Party,' and 'Performance Security' within the context of the agreement.

rmed by personnel, consultants, contractors and subcontractors that are experienced and properly qualified to perform their respective obligations in accordance with the requirements of the Agreement. - (b) Subject to the provisions of Sec...

AI summary The section outlines the requirements for project amendments, emphasizing that NSPI must approve any changes to the project. Approval cannot be unreasonably withheld but may be conditioned on compliance with laws and regulations. NSPI is not obligated to approve amendments that could negatively impact the Energy Bid or Nameplate Capacity, or those that breach the Seller's representations and warranties.

ection [2.2(a).](#page-29-1) Notwithstanding anything to the contrary in this Agreement, to the extent that the Seller has received an extension pursuant to this Section [2.2(a),](#page-29-1) the Seller shall not be entitled to claim a fur...

AI summary This section outlines the terms regarding extensions for delays, the transfer of property and risk at the delivery point, and the requirements for submitting an interconnection request under the Congestion Management Alternative. It emphasizes the Seller's and NSPI's respective responsibilities and obligations.

2.5 Scheduled Date for Commercial Operation (a) The Seller agrees to obtain Commercial Operation of the Facility by the Scheduled Commercial Operation Date; however, for greater certainty, if the Seller has failed to obtain Commercial Oper...

AI summary The section outlines the obligations and consequences related to the Scheduled Date for Commercial Operation of the Facility. It specifies that failure to achieve Commercial Operation by this date does not automatically constitute a Seller Event of Default unless otherwise defined. Extensions to the Term are permitted under certain conditions, and the Seller is liable for liquidated damages if Commercial Operation is delayed.

2.7 Equipment Certification - (a) The Seller confirms that the Generating Technology has been Certified or has commenced the process of being Certified and will be Certified on or prior to the Scheduled Commercial Operation Date. - (b) If...

AI summary This section outlines the certification requirements for generating technology under a Power Purchase Agreement (PPA). The Seller must ensure the technology is certified by the Scheduled Commercial Operation Date, with financial penalties if certification is not achieved. NSPI retains exclusive remedies for non-compliance.

4.1 Required Sale and Delivery of Energy (a) Subject to, and in accordance with, the terms and conditions of the Agreement, the Seller shall sell and deliver to NSPI and NSPI shall purchase and take delivery at the Delivery Point, the enti...

AI summary The section outlines the Seller's obligation to sell and deliver energy to NSPI, ensuring the Facility meets the Original Energy Bid. The Seller may adjust the bid to between 90% and 100% with notice and a payment for any shortfall, ensuring compliance with contractual obligations.

4.2 Acceptance of Energy - (a) Subject to, and in accordance with, the terms and conditions of the Agreement, NSPI shall purchase and take the entire Net Output of the Facility (including the entire Net Output during the Interim Period), p...

AI summary The section outlines NSPI's obligation to purchase the entire Net Output of the Facility, with provisions for suspension under certain conditions. It also specifies the Seller's remedies for NSPI's failure to purchase Net Output, including compensation for curtailment under the Electricity Act.

5.2 Ancillary Services If NSPI or the System Operator requests or directs the Seller to provide Ancillary Services (other than those Ancillary Services required to be provided by the Facility pursuant to the terms of this Agreement, or by...

AI summary This section outlines the process for negotiating terms and conditions for Ancillary Services when requested by NSPI or the System Operator. It specifies that such negotiations must occur in good faith and that disputes will be resolved through the procedures in Article 14. Additionally, it clarifies that payment for Ancillary Services is only made if explicitly stated in the relevant documents.

ller to perform its obligations under this Agreement. - (k) The Seller is an "independent power producer" as that term is defined in the Renewable Electricity Regulations. - (l) A "public utility" as that term is defined in the Electricity...

AI summary The text outlines various representations and warranties made by the Seller in a power purchase agreement, including compliance with regulations, ownership of land and renewable energy credits, and adherence to legal and regulatory requirements in Nova Scotia.

9.1 Term - (a) The Agreement shall become effective upon the Effective Date. - (b) Without prejudice to the provisions of the Agreement which pertain to that period prior to the commencement of the Term, the Term shall commence on the Comm...

AI summary This section outlines the terms of the agreement, including its effective date, commencement and expiration dates, and provisions for extending or renegotiating the agreement. It also specifies conditions under which the agreement may expire if the Facility does not achieve Commercial Operation by the Scheduled Commercial Operation Date.

FORM OF CONFIDENTIALITY UNDERTAKING TO: [⚫] [Note to finalization: Add the Counterparty, as defined below] RE: Power Purchase Agreement between ⚫ (the " Disclosing Party ") and ⚫ (the " Counterparty ") dated as of ⚫ (the " Contract ") [Not...

AI summary This document outlines a confidentiality undertaking between parties involved in a Power Purchase Agreement. It establishes terms for the disclosure of Confidential Information to a Recipient, referencing Article 8 of the Contract. The purpose of the disclosure is not fully specified but may relate to financing or realizing benefits from Renewable Energy Credits.

RECITALS: - A. The Seller and NSPI have entered into a power purchase agreement dated as of ⚫, 202⚫ (as amended, supplemented, restated or replaced from time to time in accordance with its terms and this agreement, the " PPA ") in order to...

AI summary The document outlines a power purchase agreement (PPA) between the Seller and Nova Scotia Power Inc. (NSPI) for the development and operation of a project, along with security arrangements provided by the Seller to the Security Agent as collateral for the Secured Debt.

1. Defined Terms Unless otherwise provided in this agreement or the context otherwise requires, all capitalized terms which are not defined in this agreement have the respective meanings given to them in the PPA.

AI summary The section defines terms used in the agreement, referencing the PPA for meanings of capitalized terms not otherwise defined in this document.

2. Acknowledgement and Confirmation of Rights of Security Agent NSPI acknowledges and confirms that: - (a) the Seller has delivered to NSPI copies of the Security Agreements [Note to finalization: and any applicable trust indenture] ; - (b...

AI summary NSPI acknowledges the delivery of Security Agreements and confirms that the Security Agent holds rights equivalent to a Project Lender under the PPA, including the enforcement of rights and remedies outlined in Article 12.

3. Covenants of the Security Agent The Security Agent covenants and agrees with NSPI (and in the case of paragraphs (a), (d), and (g) below, covenants, agrees, represents and warrants to NSPI) as follows: - (a) Should the Security Agent co...

AI summary The Security Agent agrees to comply with specific terms of the PPA when enforcing Security Agreements, including notifying NSPI of defaults and adhering to Section 12.2 of the PPA. The Security Agent also holds the security granted by the Seller and ensures that only it can exercise rights under the Security Agreements, except when a Project Lender Agent is appointed.

4. Covenants of the Seller The Seller covenants, agrees, represents and warrants to NSPI as follows: - (a) The Security Agreements [Note to finalization: and any applicable trust indenture] are subject to the terms and conditions applicabl...

AI summary The Seller covenants to NSPI that the Security Agreements comply with the PPA's terms, that they have provided true copies of these agreements, and that all Secured Debt is related to the Project's development and operation.

5. Covenants of NSPI NSPI represents and warrants to the Security Agent as of the date hereof: - (a) The PPA is in full force and effect and the PPA has not been assigned by NSPI and NSPI has not received any notice of transfer or assignme...

AI summary NSPI makes several warranties regarding the Power Purchase Agreement (PPA), including that it is in full force and effect, the Seller is not in default, and there have been no amendments to the PPA except as noted.

8. Successors and Assigns Subject to complying with Sections [12.1(e),](#page-63-1) 16.2 and 16.3 of the PPA, and in the case of the Seller, Section 16.4 of the PPA, the benefits under this agreement accruing to each of the parties to this...

AI summary The section outlines the conditions under which the benefits and obligations of the agreement extend to successors and permitted assigns of the parties, requiring their agreement to be bound by the agreement's provisions and the execution of a supplementary agreement upon acquisition of an interest.

9. Termination - (a) NSPI's obligations hereunder shall terminate on the first to occur of (i) the termination or expiration of the PPA in accordance with its terms, or (ii) all indebtedness of the Seller, in connection with the Project fi...

AI summary This section outlines the conditions under which NSPI's obligations terminate, including the termination or expiration of the PPA, full satisfaction of indebtedness, and the assignment of rights and interests under the PPA by the Security Agent.

12. Confidentiality The confidentiality provisions set out in Article 8 of the PPA apply to the parties to this agreement, mutatis mutandis.

AI summary The confidentiality provisions from Article 8 of the PPA apply to the parties involved in this agreement, with adjustments as appropriate.

FORM OF LETTER OF CREDIT DATE OF ISSUE: [⚫] APPLICANT: [Legal Name of Applicant] (the "Applicant") [Address of Applicant] BENEFICIARY: Nova Scotia Power Incorporated and its permitted assigns (the "Beneficiary") P.O. Box 910 Halifax, NS B3...

AI summary This document outlines the form of a letter of credit issued by a financial institution for Nova Scotia Power Incorporated. It is connected to a power purchase agreement and includes details such as the beneficiary, amount, expiry date, and credit rating requirements.

- A. NSPI and [insert name of Seller] (" Seller ") have entered into the Green Choice Program Power Purchase Agreement for Renewable Energy dated as of [ ⚫ ] (the " Agreement "); - B. Pursuant to the terms of the Agreement, the Guarantor i...

AI summary The document outlines a Power Purchase Agreement (PPA) between NSPI and a Seller, with a Guarantor providing a guarantee for the Seller's payment obligations under the Agreement. The Guarantee is based on the terms of the PPA and the meanings assigned to capitalized terms in the Agreement.

4. Notice All notices pertaining to this agreement shall be given in accordance with Section 16.7 of the PPA.

AI summary This section outlines the procedure for delivering notices under the agreement, referencing Section 16.7 of the Power Purchase Agreement (PPA).

5. Successors and Assigns Subject to complying with Sections 16.2 and 16.3 of the PPA, and in the case of the Seller, Section 16.4 of the PPA, the benefits under this agreement accruing to each of the parties to this agreement will extend...

AI summary This section outlines the conditions under which the benefits of the agreement extend to successors and permitted assigns of the parties, provided they agree to be bound by the agreement's terms and notify the other parties of such assignment.

APPENDIX D - SUMMARIZED STAKEHOLDER FEEDBACK ON PPA DRAFT #1 PPA Section Question Comment Response 1.1 Definitions The definition of "Letter of Credit" unnecessarily limits or complicates the financing options for Proponents by requiring a...

AI summary Stakeholders provided feedback on PPA Draft #1, suggesting modifications to the definition of 'Letter of Credit' to allow banks with branches in Canada or the U.S., and to include energy in the CPI indexation. NSPI responded that no changes would be made, citing the necessity of having a Halifax branch and the insignificance of the proposed changes.

1.2 Purpose and Background of the RFP - a) Renewable Low-Impact Electricity development offers significant economic benefit opportunities to many rural areas in Nova Scotia and significant advancement towards achieving greenhouse gas emiss...

AI summary The RFP aims to procure up to 1,200 GWh of renewable low-impact electricity from onshore wind resources to support Nova Scotia's clean energy targets, including achieving an 80% renewable electricity standard by 2030. The PA will administer the RFP to ensure fair and competitive selection of proposals, with the PA intending to seek Board approval for the PPA form before issuing the RFP in September 2026.

2.3 Renewable Low-Impact Electricity Generation Project - a) Each Proponent will be responsible to make the necessary investments to successfully complete development and construction, and own, operate and maintain a Renewable Low-Impact E...

AI summary The document outlines requirements for Proponents participating in the Renewable Low-Impact Electricity Generation Project, including investment responsibilities, project size, location, and eligibility criteria, such as not being on Ineligible Land or having an existing PPA.

3.5 Addenda - a) This RFP and the PPA may be amended only by Addendum in accordance with this Section [3.5,](#page-15-0) If the PA, for any reason, determines that it is necessary or appropriate to amend or provide additional information r...

AI summary This section outlines the process for amending the RFP and PPA through Addenda. Amendments must be posted on the RFP Website, and interested parties are responsible for reviewing updates. The PA may extend the Proposal Submission Deadline if Addenda are issued after the deadline.

f) Irrevocability - (i) A Proposal shall be irrevocable in the form submitted by the Proponent from the Proposal Submission Deadline until 3:00 P.M. (APT) on the one hundred and eightieth (180th) day after the Proposal Submission Deadline...

AI summary This section outlines the rules regarding the irrevocability of proposals submitted in a procurement process. Proposals are irrevocable for 180 days after submission, with potential extensions if agreed upon by the Proponent and the Procurement Administrator (PA). Proposals from Proponents who refuse an extension will no longer be considered for Power Purchase Agreements (PPAs) after the Period of Irrevocability expires.

3.10 Notification of Selected Proponents and Other Proponents - a) Selected Proponent - (i) Once the Selected Proposals(s) are chosen by the PA, the PA will notify the Selected Proponent(s) and NSPI in writing of the selections and will no...

AI summary The document outlines the process for notifying selected proponents and other proponents following the selection of proposals by the Procurement Administrator (PA). Selected proponents must execute and deliver the Power Purchase Agreement (PPA) and related documents within 20 business days of the PPA Receipt Date, with failure leading to disqualification and potential use of the Proposal Security.

4.5 Stage 5 - Deliverability Assessment and GCP Portfolio Selection - a) The deliverability in respect of Project Configurations that are included in the Preliminary List will be assessed by IESO Nova Scotia in accordance with the methodol...

AI summary Stage 5 of the Green Choice Program (GCP) involves assessing the deliverability of project configurations and selecting those that meet criteria. The Deliverability Test is used to determine if a project can be included in the Offer List, and the process stops once the GCP Portfolio Target is met. Selected proponents must enter into a Power Purchase Agreement (PPA).

5.4 Return of Proposal Security - a) For each Proponent whose Proposal does not pass any of the stages set out in Section 4 of this RFP, the applicable Proposal Security will be returned to the address provided on the Proposal Submission L...

AI summary This section outlines the conditions for the return of proposal security under the RFP. If a proposal is not selected or rejected, the security is returned within ten business days. For selected proposals, the security is returned after the execution of the PPA and receipt of completion and performance security.

5.8 Interpretation - a) The following materials form part of, and are incorporated into, this RFP: - (i) the body of this RFP and all Appendices; - (ii) any Addenda; and - (iii) all Prescribed Forms. - b) Any conflict or inconsistency betw...

AI summary Section 5.8 of the RFP outlines the interpretation and prioritization of documents, specifies that the RFP governs over proposals, and clarifies that headings are for reference only. It also defines the PA's discretion, handling of ambiguities, and the application of statutory provisions.

Capitalized terms used in this RFP but not otherwise defined in this have the meanings given to them in the PPA. Term Definition Energy Bid has the meaning given to that term in Section 2.5a)(ii). Energy Rate has the meaning given to that...

AI summary The text defines key terms used in the RFP, referencing their meanings in the PPA and other regulatory documents. Terms include Energy Bid, Expansion, Financing, and others related to energy generation and procurement.

Appendix E - Transmission Zone Map

AI summary Appendix E outlines the Transmission Zone Map, with updated information to be provided when the RFP is issued in September.

Application by the Procurement Administrator For Approval of a Standard Form Power Purchase Agreement The Board has received an application from the Procurement Administrator, pursuant to s. 37 of the Renewable Electricity Regulations , fo...

AI summary The Board has received an application from the Procurement Administrator for approval of a standard form Power Purchase Agreement under the Green Choice Program, pursuant to the Renewable Electricity Regulations. A paper hearing will be conducted, with comments due by September 14, 2026.

August 17 , 202 6 SENT VIA E -MAIL Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3 rd Floor Halifax, Nova Scotia B3J 3S3 Application for Approval of the Green Choice Power Purchase Agreement ("PPA") U...

AI summary Power Advisory LLC is requesting the Nova Scotia Energy Board to approve a standard form Power Purchase Agreement (PPA) for the Green Choice Program. The PPA is similar to one previously approved by the Board in Matter 11455. Power Advisory also seeks authority to make non-substantive changes to the PPA after approval and to adjust curtailment compensation payment timing once Nova Scotia Power Inc. agrees on a process with the Independent Electricity System Operator.

ovide notice on the procurement website [https://nova](https://nova-scotia-gcp.com/) -scotia -gcp.com/ ) that we have filed this A pplication with the Board for the approval of the standard form PPA . We welcome the opportunity to provide...

AI summary Power Advisory LLC has submitted an application to the Board for the approval of a standard form Power Purchase Agreement (PPA). The application is not confidential and additional information is being provided to assist the Board in its review.

August 19, 2026 [[email protected]](mailto:[email protected]) Michael Killeavy, LL.B., MBA, P.Eng. Commercial Director Power Advisory 55 University Avenue, Suite 700 Toronot, ON M5J 2H7 Dear Mr. Killeavy: M13042 –...

AI summary The Board is reviewing a proposed Power Purchase Agreement (PPA) under the Renewable Electricity Regulations. Interested parties have been given an opportunity to provide feedback, with a timeline set for comments and replies. The panel assigned to the matter includes Stephen T. McGrath, Roland A. Deveau, and Richard J. Melanson.

Application by the Procurement Administrator For Approval of a Standard Form Power Purchase Agreement The Board has received an application from the Procurement Administrator, pursuant to s. 37 of the Renewable Electricity Regulations , fo...

AI summary The Board has received an application from the Procurement Administrator for approval of a standard form Power Purchase Agreement under the Green Choice Program, as required by the Renewable Electricity Regulations. A paper hearing will be conducted, with a deadline for comments from interested parties on September 14, 2026.