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.

VIA WEB PORTAL Crystal Henwood, Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor P.O. Box 1692, Unit "M" Halifax, NS B3J 3S3 Dear Ms. Henwood: Re: M13042 - Procurement Administrator - Power Advisory – Applicat...

AI summary The Consumer Advocate, with assistance from InterGroup Consultants, submits comments on the proposed standard form Power Purchase Agreement for the Green Choice Program as part of the M13042 proceeding.

Performance Security The application states the revised PPA requires a selected proponent to provide the pre-COD performance security upon execution of the PPA. [1](#page-0-0) The draft RFP (Appendix E) states at section 3.10 (a) (iii) tha...

AI summary The application discusses the requirement for pre-COD performance security under the revised PPA and RFP. It notes that the pre-COD amount must be provided prior to Commercial Operation and suggests the clause may need revision. The application also mentions the reduction of performance security to align with other jurisdictions but lacks specific examples.

Inflation Adjustments The application includes a provision for CPI escalation for 20% of the Energy Rate annually after the commercial operation date and indicates this represents the O&M costs over the term of the PPA. The application not...

AI summary The application proposes a 20% annual CPI escalation for 20% of the Energy Rate to account for O&M costs over the PPA term. While this may be reasonable, there is no explanation provided on how the 20% figure was derived or how it compares to other jurisdictions.

Re: M13042 – Application by the Procurement Administrator For Approval of a Standard Form Power Purchase Agreement Dear members of the Nova Scotia Energy Board, On August 17, 2026, the Nova Scotia Energy Board ("Board") received an applica...

AI summary SWEB Development Limited Partnership provides comments on a Power Purchase Agreement (PPA) for renewable energy projects under the Green Choice Program. SWEB highlights its experience in Nova Scotia's energy landscape, including successful participation in previous procurement processes such as the Rate Base Procurement and the first round of the Green Choice Program.

Our team - successfully handled international supply-chain issues; - managed delays in the interconnection process; - supported the challenging implementation of new technologies on the Nova Scotia grid; - gained social license for multi-m...

AI summary SWEB Development Limited Partnership highlights challenges with the draft Power Purchase Agreement (PPA) under Green Choice Program II, noting that it may not balance risks and pricing fairly between Nova Scotia Power and developers. They argue that the PPA may lead to higher energy rates and lower participation, and suggest releasing a final draft before registration deadlines to allow better risk assessment.

Section 2.7 – Local Benefits Shortfall We would like to highlight that the new local benefits requirement in Section 2.8 is not feasible for the following reasons: Proponents are subject to confidentiality obligations especially in terms o...

AI summary The document argues that the new local benefits requirement in Section 2.8 of the PPA is not feasible due to confidentiality obligations, the impracticality of requiring Local Benefits Reports before Commercial Operation, and the increased capital costs of involving third parties to prepare such reports.

isk to project feasibility and widespread benefits to First Nation communities/owners; as well as other direct and indirect benefits associated with projects is too critical to ignore and not protect. We acknowledge that the additional pro...

AI summary The text highlights concerns about the financial viability of renewable energy projects due to potential changes in federal investment tax credits. It urges the new PA, NSEB, and Nova Scotia Government to avoid repeating past mistakes that led to increased costs for ratepayers and delayed benefits from clean energy projects.

Previous Section 16.9 – Inability to Secure CIB or SREP Funding In Section 1.5 of the draft RFP, Proponents " are encouraged to explore all federal funding opportunities to make their Energy Rate more competitive, including investment tax...

AI summary The document discusses the removal of Section 16.9 from the PPA, which previously allowed termination if CIB or SREP funding could not be secured. Proponents argue that this removal increases project financial risk, potentially leading to higher prices and reduced participation. They urge reinstating the section with revisions to protect developers and ensure project viability.

Previous Section 16.9 – Inability to Secure CIB or SREP Funding Section 16.9 c) of the PPA Draft #1requires NSPI's consent for Seller to use its termination right. Such a consent requirement significantly limits the protection granted unde...

AI summary The text criticizes Section 16.9 c) of the PPA Draft #1, arguing that requiring NSPI's consent for termination rights undermines their purpose, especially in cases where funding conditions are not met. The suggestion is to delete Section 16.9 c) and amend related sections.

Previous Section 16.9 – Inability to Secure CIB or SREP Funding Section 16.9 only provides a termination right to Seller. However, by the time it becomes clear that no CIB or SREP funding can be obtained, Seller has incurred significant co...

AI summary Section 16.9 provides termination rights to the Seller if CIB or SREP funding cannot be secured, but this protection is limited as significant costs may have already been incurred. The text argues that ratepayers, not Proponents, should bear the risk of funding withdrawal. A suggested amendment allows the Seller to claim out-of-pocket costs incurred during project development.

New Section 16.9 – Adjustment for Post-Proposal Applicable Tariffs Following to the new Section 16.9 c) - Adjustment for Post-Proposal Applicable Tariffs, Seller must deliver a Tariff adjustment Notice no later than six (6) months prior to...

AI summary This section discusses a proposed adjustment to Section 16.9 of a power purchase agreement (PPA), suggesting a change to the deadline for delivering a Tariff Adjustment Notice to align with NSPI's right to deliver a Tariff Reduction Notice, considering potential delays in the interconnection process.

Exhibit H – Calculation of Adjusted Energy Rate In the most current PPA draft submitted to the NSEB, the CPI adjustment in Exhibit H starts on the Effective Date (= time of execution). A target PPA Execution Date has not been communicated...

AI summary The document discusses the calculation of the adjusted energy rate and the need to adjust the CPIED definition to account for delays in PPA execution. It highlights past procurement delays and the impact on Proponents and ratepayers, suggesting a change to the CPIED definition to mitigate risk.

September 10, 2026 Clerk of the Board Nova Scotia Energy Board P.O. Box 1692, Unit "M", Halifax, NS B3J 3S3 Subject: CanREA Submission on Matter M13042 – Green Choice Program PPA Dear Nova Scotia Energy Board, We are pleased to submit our...

AI summary CanREA submits feedback on Matter M13042 regarding the Green Choice Program PPA, noting improvements made by the Program Administrator but highlighting concerns and recommending amendments for a successful procurement.

2. CIB and SREPs / Section Missing from the PPA - In the Request For Proposals (RFP) document, the Program Administrator stated that the Nova Scotia Department of Energy is in discussions with Canadian Infrastructure Bank (CIB) with respec...

AI summary The document highlights concerns about the removal of protections for proponents in the Power Purchase Agreement (PPA) related to financing from the Canadian Infrastructure Bank (CIB) and the Smart Renewables and Electrification Pathways Program (SREPs). The absence of these protections may increase project risks and costs, as delays in financing have previously hindered project progress.

4. Term / Section 9.1(b) - Several RFPs across Canada consider 30 year terms to secure long-term rate stability and finance massive capital investments. The advantage is that it reduces the cost per MW, guarantees additional MWs for longer...

AI summary The text discusses the recommendation to extend the term in Section 9.1(b) from 25 to 30 years to improve long-term rate stability and enable competitive bids. This aligns with practices by other Canadian utilities and supports the use of Investment Tax Credits (ITCs) over a longer period, ultimately benefiting ratepayers.

6. Local Benefits / Sections 2.4 and 2.7 of the PPA - CanREA supports the inclusion of Local Benefits in the evaluation of projects submitted to this RFP and as a requirement for Commercial Operation (section 2.4 of the PPA). However, ther...

AI summary CanREA supports the inclusion of Local Benefits in the PPA but raises concerns about quantifying them at bid submission and the handling of shortfalls. They recommend adjusting deadlines, relaxing NDA requirements, and involving an independent party for compliance. These recommendations aim to ensure a fair and effective procurement process for the Green Choice Power Purchase Agreement.

72% reduction in Pre-COD security (from $125,000/MW to $35,000/MW) This reduction weakens ratepayer protection during the highest-risk development period. The stated rationale is "to align the security requirements with other jurisdictions...

AI summary The reduction in Pre-COD security from $125,000/MW to $35,000/MW is argued to weaken ratepayer protection during high-risk project development. The rationale for the reduction is not substantiated with comparative jurisdictional data, and the Independent Governor recommends providing such data to ensure the amount is appropriate and does not increase ratepayer exposure.

September 14, 2026 Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax, NS B3J 3S3 Re: M13042 – Procurement Administrator (Power Advisory LLC) – Green Choice Power Purchase Agreement Appli...

AI summary Nova Scotia Power Inc. submitted a letter of comment regarding Power Advisory LLC's application for approval of the Green Choice Program Power Purchase Agreement. The application was filed under the Electricity Act, and the Board set a deadline for comments on August 19, 2026.

Performance Security in the Pre-Commercial Operation Date (COD) Amount As noted by the Consumer Advocate in its submission of September 9, 2026, Section 6.1 of the PPA does not provide a specific timeline for the provision by the Seller of...

AI summary The Consumer Advocate highlighted a potential ambiguity in Section 6.1 of the PPA regarding the timeline for providing pre-COD Performance Security. NS Power consulted with the PA, who indicated the RFP process would clarify the timing. However, since NS Power cannot enforce RFP timelines, it recommends specifying a deadline in the PPA that aligns with the RFP's Section 3.10.

Curtailment Payment Timing The PA's Application requests the authority to make changes to the provision of the PPA dealing with the timing of curtailment compensation payments. As the PA noted, NS Power has been working internally to clari...

AI summary The PA requests authority to amend the PPA's curtailment payment timing provisions. NS Power has clarified that curtailment payments will be made in the month following the billing month, with potential adjustments based on subsequent data reviews. The proposed PPA is similar to one previously approved by the Board in Decision and Order M11455.

September 14, 2026 VIA EMAIL Ms. Crystal Henwood Clerk of the Board Nova Scotia Energy Board 1601 Lower Water Street, 3rd Floor Halifax NS B3J 3S3 Dear Ms. Henwood: Re: M13042 - Power _Advisory Application for Approval of a Green Choice Po...

AI summary The Small Business Advocate (SBA) has submitted comments and questions regarding Power Advisory's application for approval of a Green Choice Power Standard Form Purchase Agreement (PPA). The SBA raises concerns about the removal of equipment certification requirements, the elimination of congestion management alternatives, and the handling of local benefits shortfalls.

r Approval of a Green Choice Power Standard Form Purchase Agreement (PPA) (the "Application") - Page 8 of 19, Paragraph 5. 2M13042, Exhibit P-l(i) -Appendix A- Green Choice PPA- Page 27, Section 2.7. Power Inc. (NSPI). What is NSPI expecte...

AI summary The document contains questions and concerns raised regarding the Green Choice Power Standard Form Purchase Agreement (PPA) involving Power Inc. (NSPI). Issues include the use of funds, the rationale for the Early Completion Incentive, the cybersecurity plan approval process, and concerns over the adequacy of information provided for the PPA's approval.

at additional information needs to be provided and assessed prior to the PPA being approved. Yours very truly, Melissa P. MacAdarn ...:.~============= ~ Small Business Advocate _.. 3 M13042, Exhibit P-l(i) -Appendix A- Green Choice PPA - P...

AI summary The document indicates that additional information must be provided and assessed before the Power Purchase Agreement (PPA) can be approved. The Small Business Advocate, Melissa P. MacAdarn, is involved in this process.

September 14, 2026 To: Crystal Henwood, Clerk of the Board, Nova Scotia Energy Board From: Amy Pellerin, Director, Canadian Development - Natural Forces Developments LP Re: Comments by Interested Parties on the Green Choice PPA (M13042) De...

AI summary Natural Forces Developments LP and RMSenergy Ltd. submit comments to the Nova Scotia Energy Board regarding the Green Choice Power Purchase Agreement. Both companies are involved in renewable energy projects, with Natural Forces being a private independent power producer and RMS managing wind energy projects.

1. Interconnection and n etwork u pgrade cost uncertainty (multiple PPA sections) Recommendation: Incorporate either: an Energy Rate adjustment mechanism tied to actual Interconnection and Network Upgrade costs identified in the Facilities...

AI summary The document discusses the financial risks faced by the Seller under the PPA due to discrepancies between Feasibility Study and Facilities Study interconnection and network upgrade costs. It recommends either an Energy Rate adjustment mechanism or a no-fault termination right for the Seller to address this imbalance and ensure commercial reasonableness.

8. Adjustment for the Reduction of Tariffs (s. 16.10) Recommendation: Remove Section 16.10 (Adjustment for the Reduction of Tariffs) in its entirety, as it creates a punitive and asymmetric risk allocation for proponents and is inconsisten...

AI summary The recommendation is to remove Section 16.10 of the PPA, which allows NSPI to reduce the Energy Rate if tariffs or customs duties are reduced, as it creates an unfair risk allocation for proponents. Proponents face significant cost increases from external factors not covered by the PPA, leading to financial instability under the Green Choice Program.

September 25, 202 6 SENT VIA E -MAIL Crystal Henwood Clerk of the Board Nova Scotia Energy Board (the "Board") 1601 Lower Water Street, 3 rd Floor Halifax, Nova Scotia B3J 3S3 M13042 - Application for Approval of the Green Choice Power Pur...

AI summary Power Advisory LLC, acting as Procurement Administrator for the Green Choice Program, is responding to comments on the Green Choice Power Purchase Agreement (PPA) and its application for approval by the Nova Scotia Energy Board. Comments were submitted by multiple parties, including Industrial Group, Nova Scotia Power Inc., and the Canadian Renewable Energy Association, among others.

rd, as Exhibit "B" and a clean version of the Amended PPA in Exhibit "C". All capitalized terms in this letter have the meaning given to them in the Amended PPA. All section references herein refer to 1 Although not commented on by the par...

AI summary The document discusses the submission of an amended Power Purchase Agreement (PPA) to the Board, including requested changes and the implementation of a curtailment procedure. The submission includes exhibits and a request for authority to make non-substantive changes to the PPA after Board approval.

1 The previous Green Choice PPA had a Pre-COD Amount of $125,000/MW and post-COD Amount of $20,000/MW (Board order for M11455, dated June 6, 2024) Summary Stakeholder Comments Procurement Administrator Response # Consumer Advocate

AI summary The previous Green Choice PPA had a Pre-COD Amount of $125,000/MW and post-COD Amount of $20,000/MW as outlined in Board order for M11455, dated June 6, 2024.

11 https://www.novascotia.ca/sites/default/files/documents/1-3582/nova-scotia-clean-power-plan-presentation-en.pdf 26. Performance Security We can revise the drafting to provide better clarity as follows: "…provide to and maintain with NSP...

AI summary The document discusses the revision of performance security requirements in the PPA, the reinstatement of equipment certification by the SBA, and the argument that equipment certification is unnecessary due to the maturity of wind energy technology in Canada. NSPI supports the removal of certification requirements to avoid unnecessary costs to rate payers.

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. Key elements include the term of 25 years, the site location, and nameplate capacity of the facility, which will be populated based on the Seller's proposal.

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 Incorporated (NSPI) and an unnamed seller. It includes a table for signatories and a section titled 'GENERAL TERMS AND CONDITIONS'.

ct Energy or any portion thereof with renewable energy from a renewable energy generation facility with an Electricity Standard Approval), and - (c) an amount (whether positive or negative) equal to: - (i) the Present Value for the Contrac...

AI summary The text defines key terms in a power purchase agreement, including the calculation of Early Termination Payments and the criteria for Eligible Guarantors. It references the Electricity Act and the Renewable Electricity Regulations, and includes definitions related to market pricing and credit ratings.

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 outlines terms and conditions related to the calculation of a Partial Termination Payment under a power purchase agreement, including considerations for market pricing and replacement contracts. It also defines key terms such as Participant, Participating Interest, Party, and Performance Security.

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 This section outlines the obligations and consequences related to the Scheduled Date for Commercial Operation of a Facility. It specifies that failure to achieve Commercial Operation by the scheduled date does not constitute an Event of Default unless otherwise defined. It also outlines the right of NSPI to extend the Term and the liability of the Seller for liquidated damages if Commercial Operation is delayed.

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 during the design and construction phase of the project, detailing efforts to meet the Scheduled Commercial Operation Date. NSPI may request meetings and site access to verify the reports, subject to certain conditions.

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 in a Power Purchase Agreement (PPA) with Nova Scotia Power Incorporated (NSPI), including the requirement to sell and deliver the entire Net Output of a Facility, the design and operation standards, and the option to adjust the Original Energy Bid with associated financial penalties.

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 text outlines the obligations related to Performance Security under the agreement between the Seller and NSPI. It specifies the amounts and timing of Performance Security, including conditions for its return and release.

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 an agreement, including its effective date, term duration, and provisions for extending or renegotiating the power purchase agreement. It specifies that the agreement expires 25 years from the commencement date unless extended or renegotiated.

FORM OF CONFIDENTIALITY UNDERTAKING TO: [⚫] [Note to finalization: Add the Counterparty, as defined below] Signed this day of Month, Year . RE: Power Purchase Agreement between ⚫ (the " Disclosing Party ") and ⚫ (the " Counterparty ") date...

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

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.

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 that the Security Agreements, including any applicable trust indenture, are binding and constitute Project Lender's 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 certain covenants with NSPI, including compliance with the PPA, maintaining arm's length status, and providing notice of defaults. It outlines the rights and responsibilities of the Security Agent in relation to the Project and the enforcement of Security Agreements.

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 incurred in connection with the Project.

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 confirms that the PPA is in full force and effect, has not been amended or assigned, and that neither NSPI nor the Seller is in default under the PPA. NSPI also asserts that all necessary agreements are in place for the transactions contemplated by the PPA.

8. Successors and Assigns Subject to complying with Sections [12.1(e),](#page-58-1) 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 This section outlines the conditions under which successors and assigns of the parties to the agreement can benefit from and be bound by the agreement. It requires that any successor or assign agree to be bound by the agreement's provisions 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 provisions outline 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 a Letter of Credit issued in connection with a Power Purchase Agreement (PPA) between Nova Scotia Power Incorporated and the Seller. The Credit is irrevocable and unconditional, and is issued in accordance with Section 6.1(a) of the PPA.

- 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 Guarantee is based on the terms defined in the PPA.

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. Key terms and conditions are detailed, with placeholders for information to be filled based on the Seller's proposal. The agreement includes provisions for 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 an agreement related to a project, including details such as nameplate capacity, energy rates, scheduled commercial operation dates, and financial incentives. It includes sections for project ownership, confidentiality, and legal agreements, with some exhibits marked as not used.

ct Energy or any portion thereof with renewable energy from a renewable energy generation facility with an Electricity Standard Approval), and - (c) an amount (whether positive or negative) equal to: - (i) the Present Value for the Contrac...

AI summary The text defines key terms related to a power purchase agreement, including the calculation of Early Termination Payments and the definition of the Electricity Act and Electricity Standard Approval. It outlines the criteria for an Eligible Guarantor and references the Generator Interconnection Agreement for the definition of an Emergency Condition.

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 outlines terms and conditions related to a contract, including the calculation of a Partial Termination Payment based on market pricing for replacement contracts and defines key entities such as 'Participant,' 'Participating Interest,' 'Party,' and 'Performance Security.'

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 text outlines the obligations of the Seller in relation to the Project, including the requirement to obtain prior written consent from NSPI for any Project Amendment. NSPI may withhold consent if the amendment could have a material adverse effect or breach representations and warranties. The Seller is responsible for NSPI's legal expenses related to reviewing such requests.

2.3 Obtaining and Maintaining Electricity Standard Approval - (a) On or prior to Commercial Operation, the Seller shall obtain an Electricity Standard Approval for the Facility. NSPI shall provide the Seller, at the Seller's expense, assis...

AI summary This section outlines the Seller's obligation to obtain and maintain Electricity Standard Approval for the Facility prior to and during the Term. Failure to do so results in liquidated damages to NSPI based on the Renewable Attribute Loss Rate and Daily Energy Bid. NSPI retains the right to recover these damages through Performance Security or other means, with specific exclusions and limitations.

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 text outlines the obligations and consequences related to the Scheduled Date for Commercial Operation of a Facility. It specifies the Seller's responsibility to achieve Commercial Operation by the Scheduled Date, the right of NSPI to extend the Term, and the liability of the Seller for liquidated damages if Commercial Operation is delayed.

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 during the design and construction phase, including updates on meeting the Scheduled Commercial Operation Date. NSPI may request meetings with the Seller's personnel and access to the Site to verify progress, subject to certain conditions.

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 in relation to the sale and delivery of energy to NSPI. The Seller must deliver the entire Net Output of the Facility, with the Facility designed to meet an average yearly Net Output not less than the Original Energy Bid. The Seller may restate the bid under certain conditions, with potential liquidated damages if the Net Output falls short.

4.3 Automatic Generation Control - (a) The Seller shall cause the Facility to be equipped with Automatic Generation Control (AGC) equipment and software that is suitable and sufficient, in accordance with Good Utility Practice, to provide...

AI summary Section 4.3 outlines the requirements for Automatic Generation Control (AGC) equipment and software at the Facility, ensuring real-time power output adjustments and compliance with system operator needs. NSPI has the right to perform diagnostic analyses, and the Seller must configure AGC systems within specified ranges. Failure to maintain AGC functionality results in reduced compensation for the Seller.

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 The text outlines the payment structure for Net Output and Excess Energy under a PPA, specifying different percentages and conditions for payment, including an Early Completion Incentive if the project starts before December 31, 2029.

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

AI summary The document outlines the obligations related to Performance Security under the agreement between the Seller and NSPI. The Seller must maintain Performance Security throughout the term, with amounts varying based on the project's stage. NSPI is required to return the Performance Security under specific conditions, including after Commercial Operation and upon termination of the Agreement.

s is complete and accurate and all statements, specifications, data, confirmations and information that have been set out in the Project Description are complete and accurate in all material respects. - (i) The Seller has no reason to beli...

AI summary The Seller provides various representations and warranties, including the accuracy of information in the Project Description, compliance with laws, status as an independent power producer, and the location of the Project within Nova Scotia. The Seller also reaffirms the accuracy of the Proposal and confirms that no material information has been omitted.

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 that if NSPI does not negotiate a new power purchase agreement, 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 between the Disclosing Party and the Counterparty under a Power Purchase Agreement. It requires the Recipient to hold Confidential Information confidential in accordance with 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 secure its obligations under the PPA. The PPA and related security agreements are central to the arrangement.

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.

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 acts as the Project Lender under the PPA, with rights and remedies as 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 This section outlines the covenants made by the Security Agent in relation to the PPA and Security Agreements. It includes commitments to comply with specific PPA terms, maintain arm's length status, and notify NSPI of defaults or changes in the Security Agent's identity or 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 This section outlines the covenants made by the Seller to NSPI, including compliance with the PPA's Security Agreements, provision of true and complete copies of such agreements, and ensuring that all Secured Debt is connected to the Project's development and maintenance.

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. These covenants are part of the agreement with the Security Agent.

8. Successors and Assigns Subject to complying with Sections [12.1(e),](#page-58-2) 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 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 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 This section outlines the termination conditions of the agreement. Termination occurs upon the first to occur of the PPA's termination or the full satisfaction of the Seller's indebtedness. The agreement also terminates if the Security Agent assigns its rights under the PPA.

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 outlined in Article 8 of the Power Purchase Agreement (PPA) apply to the parties involved in this agreement, with appropriate modifications.

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 an applicant to Nova Scotia Power Incorporated (the Beneficiary) under a power purchase agreement. The letter of credit is irrevocable and unconditional, and is connected to Section 6.1(a) of the agreement. It includes details such as the beneficiary's address, the expiry date and place, and the credit rating requirement.

- 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 NSPI and a Seller, with the Guarantor agreeing to provide a guarantee for the Seller's payment obligations under the Agreement. The Guarantee is based on the terms of the PPA and applies to all payment obligations of the Seller.

Re: M13042 – Application by the Procurement Administrator For Approval of a Standard Form Power Purchase Agreement Dear members of the Nova Scotia Energy Board, On August 17, 2026, the Nova Scotia Energy Board ("Board") received an applica...

AI summary The Nova Scotia Energy Board has received an application for approval of a Power Purchase Agreement under the Green Choice Program. SWEB Development Limited Partnership submitted comments and expressed concerns about the PA's feedback, which they believe did not adequately address prior concerns or provide meaningful arguments.

PA Feedback # 6. Cybersecurity Plan: The PA outlines that "We cannot commit IESO NS to a review timeline since much depends on the quality of the plan and timing of its submission to IESO NS by the Seller". We acknowledge, that the IESO NS...

AI summary The PA states that IESO NS cannot commit to a review timeline for the Cybersecurity Plan due to dependency on submission quality. The Seller disagrees, arguing that IESO NS can commit to a review timeframe post-submission. The Seller also references PPA terms requiring IESO satisfaction before Commercial Operation and highlights the risk of delays.

PA Feedback # 11. Change in Law: The PA has rejected the inclusion of federal law in Section 13.1. with the argument that the concerns raised by SWEB are "not an issue now". We would like to clarify that Change in Law provisions are typica...

AI summary The PA has rejected including federal law in Section 13.1, arguing that current concerns raised by SWEB are not relevant. However, SWEB emphasizes that change in law provisions are meant for future unknowns and highlights the importance of federal Investment Tax Credits. They also note that past events demonstrate federal law impacts projects and that previous claims were incorrect.

y unlikely that any Proponent or NSPI would be willing to commit to a 2029 Scheduled Commercial Operation Date/In-Service Date within the PPA/the Generator Interconnection Agreement (GIA). In order to allow ratepayers/Participants and the...

AI summary The text discusses the challenge of committing to a 2029 Scheduled Commercial Operation Date/In-Service Date in a PPA and GIA, and proposes an Early Completion Incentive tied to an earlier Commencement Date. The Board also requests clarification on ERIS/NRIS Connection provisions and the rationale for requiring the Commencement Date to occur before 2029.

lity's output using the existing firm or non-firm capacity of the Transmission System on an "as available" basis. ER Interconnection Service does not in and of itself convey any transmission service." Section 33(4) of the Electricity Act s...

AI summary The document raises questions about the interaction between ERIS provisions and curtailment compensation under the Electricity Act, and clarifies the requirements for Commercial Operation based on the Local Benefits Report. The Board requests comments from Power Advisory by October 19, 2026.

October 19 , 202 6 SENT VIA E -MAIL Crystal Henwood Clerk of the Board Nova Scotia Energy Board (the "Board") 1601 Lower Water Street, 3 rd Floor Halifax, Nova Scotia B3J 3S3 M13042 - Application for Approval of the Green Choice Power Purc...

AI summary Power Advisory LLC, acting as Procurement Administrator for the Green Choice Program, is responding to the Board's letter dated October 15, 2026, regarding the Application for Approval of the Green Choice Power Purchase Agreement under the Renewable Electricity Regulations.

Local Benefits Report Regarding the submission of the Local Benefits Report being a requirement for achievement of Commercial Operation, while provision of Local Benefits is not a mandatory requirement in the RFP, we propose to amend Secti...

AI summary The document discusses proposed amendments to the Amended PPA to require the submission of a Local Benefits Report by an independent third party and to modify the Commercial Terms to indicate whether the report is required at COD. The letter is in response to the Board Letter.