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Virtual Power Purchase Agreement Template

Virtual Power Purchase Agreement Template 2026

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The document is a Virtual Power Purchase Agreement (VPPA) between a Buyer and a Seller for the procurement of renewable energy and associated Renewable Energy Certificates (RECs) from a specified renewable energy project. It outlines the terms, conditions, financial arrangements, and responsibilities of both parties involved in the purchase and sale of renewable energy. The agreement includes definitions, project details, pricing structure, payment schedules, termination rights, force majeure clauses, and confidentiality provisions to ensure compliance and mutual understanding.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between PPA and VPA?

A VPPA is a specific type of a PPA contract (collectively referred to as PPA contracts), used to procure long-term renewable energy. A VPPA is also known as a financial PPA or synthetic PPA, and unlike a physical PPA, it does not involve the transfer of physical energy but rather a financial settlement.

What is a VPP agreement?

A volumetric production payment (VPP) deal is a means of financing that has been used in the oil and gas industry for several decades. A VPP involves the owner of an oil and gas property selling a percentage of their production in exchange for an upfront cash payment.

Why would I buy a VPPA?

Because a VPPA comes with the EACs generated by the project, buyers gain the benefit of a scope 2 emissions reduction (if replacing a non-renewable source) based on the Greenhouse Gas (GHG) Protocol scope 2 market-based reporting methodology.

What is a virtual power purchase agreement?

A Virtual PPA is a contract structure in which a power buyer (or offtaker) agrees to purchase a projects renewable energy for a pre-agreed price. In this agreement, the utility-scale solar project receives the market price at the time the energy is sold.

Is a virtual PPA a derivative?

Because virtual PPAs are primarily financial contracts, rather than physical power delivery contracts, they are often categorized as financial derivatives. Financial derivatives are measured at their fair value and any changes in value are recognized in the income statement.