Bankability Sample Clauses

Bankability. At the time of the first edition of this book, the first round of the South African renewable energy IPP program had seen the financing of the 50 MW Khi and 100 MW Kaxu projects. The projects combined concentrated solar power technology with saturated steam and molten salt energy storage to give the plants back-up power capacity of 2 and 2.5 hours of continuous energy generation respectively, enabling them to smooth out intermittency from cloud cover and satisfy the peak demand period in the hours just after sunset. Molten salt receiver technology has significantly improved the duration of back- up power. The 2015 Crescent Dunes project in the United States has 10 hours of thermal storage; Noor III commenced operations in Morocco in 2018 with 7.5 hours of storage and, as of 2019, the 100MW Redstone CSP/molten salt storage project in South Africa is finalising financing arrangements. If successful, the South African facility will have 12 hours of full-load thermal storage. The capital costs and resulting tariffs for such projects are clearly significantly higher than solar power without storage. Developed markets have recently seen growth in battery storage (mainly sodium-sulphur and lithium-ion). Examples include the Mitsubishi storage facility commissioned in Japan in 2016, capable of delivering 6 hours of electricity at 50MW and the 129 MWh Hornsdale Power Reserve in South Australia, adjacent to the 315 XX Xxxxxxxxx wind farm. The evolution of affordable and reliable battery storage introduces a new dimension to the structure and pricing of PPAs for the renewable sector. Whereas solar and wind are intermittent by nature, battery storage introduces base load type benefits to the offtaker and the grid operator. These benefits include ancillary services, reserve capacity and frequency regulation. Ancillary services are the functions that assist grid and system operators in maintaining a reliable electricity system. These services include maintaining the adequate flow and direction of electricity, managing supply and demand discrepancies, and assisting the system to recover after a power system failure. Reserve capacity is essentially unused but available generation capacity that can quickly be dispatched if other generation resources suddenly become unavailable. To the extent that storage can be used as reserve capacity, the requirement and cost for generation-based reserves are avoided.
Sample 1
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Bankability. Bankability refers to whether a project will be acceptable to lenders, and refers to the scope of consideration of a project seeking project financing in the commercial lending market. However, a project can also obtain financing from lenders other than commercial banks, including DFIs and private equity funds. Therefore, bankability can also be thought of as the ability to attract financing from any source of funds rather than limiting it to one particular source. The Role of the PPA in Bankability The power purchase agreement is key to bankability. For the typical power project, there is only one stream of revenue - payments from the buyer under the PPA. If the buyer fails to pay, it will be very difficult for the project to repay its lenders on a timely basis. The PPA also helps to accommodate the unique nature of power projects. Power generation is unique in that the electricity generated is being sold into a geographically limited, and often highly regulated, market. As opposed to other high-value commodities such as hydrocarbons, minerals or precious metals that can be transported to meet demand, the power project is beholden to the demand of the market that it serves. Similarly, the pricing of electricity to end-users in emerging markets is often guided by regulation rather than by market forces. The PPA is essential because it addresses both the uncertainty in demand and in pricing. On the demand side, the PPA establishes a long-term purchase obligation that provides a consistent revenue stream to the producer and a consistent flow of electricity to the offtaker. On the pricing side, the PPA incorporates a tariff formula that is tailored to the technology, operations, and debt characteristics of the project, which can be modeled over the full life of the project. This allows the PPA to establish an electricity price that reflects the true cost of generating the power.
Sample 1

Related to Bankability

  • RENEWABILITY If You wish to renew coverage under this Service Agreement, please contact the Administrator prior to the expiration of Your current Term to initiate Our renewal process. Renewability is determined at Our sole discretion and may not be available.

  • Constructability Program 5.2.1 Implement and conduct a constructability program to identify and document Project cost and schedule savings opportunities. The constructability program shall follow accepted industry practices and be reviewed by Owner at design milestones. Whenever the term “value engineering” is used in conjunction with this Agreement or the Project, it has its commonly accepted meaning within the construction industry and does not imply the practice of professional engineering without a license. If any value engineering activities constitute the professional practice of engineering, then such activities shall be performed by an engineer licensed in Texas.

  • Searchability Offering searchability capabilities on the Directory Services is optional but if offered by the Registry Operator it shall comply with the specification described in this section.

  • Grievability Denial of a petition for reinstatement is grievable. The grievance may not be based on information other than that shared with the Employer at the time of the petition for reinstatement.

  • Constructability Review Prepare detailed interdisciplinary constructability review within Fourteen (14) days of receipt of the plans from the District that:

  • Reliability Reliability targets (Mean Time Between Failures (MTBF)) are defined in the technical specifications as set out in the Contract. Notwithstanding any possible application of penalties relating to reliability defined in the Contract, Goods shall remain covered by the warranty defined in this Article 16 as long as the reliability commitments have not been reached.

  • Non-Grievability No dispute over a claim for any benefits extended by this Health and Welfare Fund shall be subject to the grievance procedure.

  • Financial Ability Each of the Buyer Parties acknowledges that its obligation to consummate the transactions contemplated by this Agreement and the Brewery Transaction is not and will not be subject to the receipt by any Buyer Party of any financing or the consummation of any other transaction other than the occurrence of the GM Transaction Closing and, in the case of the Brewery Transaction, the consummation of the transactions contemplated by this Agreement. The Buyer Parties have delivered to ABI a true, complete and correct copy of the executed definitive Second Amended and Restated Interim Loan Agreement, dated as of February 13, 2013, among Bank of America, N.A. (“Bank of America”), JPMorgan Chase Bank N.A. (“JPMorgan”) and CBI (collectively, the “Financing Commitment”), pursuant to which, upon the terms and subject to the conditions set forth therein, the lenders party thereto have committed to lend the amounts set forth therein (the “Financing”) for the purpose of funding the transactions contemplated by this Agreement and the Brewery Transaction. The Buyer Parties have delivered to ABI true, complete and correct copies of the fee letter and engagement letters relating to the Financing Commitment (redacted only as to the matters indicated therein), the Financing Commitment has not been amended or modified prior to the date of this Agreement, and, as of the date hereof, the respective commitments contained in the Financing Commitment have not been withdrawn, terminated or rescinded in any respect. There are no agreements, side letters or arrangements to which CBI or any of its Affiliates is a party relating to the Financing Commitment that could affect the availability of the Financing. The Financing Commitment constitutes the legally valid and binding obligation of CBI and, to the Knowledge of CBI, the other parties thereto, enforceable in accordance with its terms (except as such enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar Laws of general applicability relating to or affecting creditors’ rights, and by general equitable principles). The Financing Commitment is in full force and effect and has not been withdrawn, rescinded or terminated or otherwise amended or modified in any respect, and no such amendment or modification is contemplated. Neither CBI nor any of its Affiliates is in breach of any of the terms or conditions set forth in the Financing Commitment, and assuming the accuracy of the representations and warranties set forth in Article 4 and performance by ABI of its obligations under this Agreement and the Brewery SPA, as of the date hereof, no event has occurred which, with or without notice, lapse of time or both, would reasonably be expected to constitute a breach, default or failure to satisfy any condition precedent set forth therein. As of the date hereof, no lender has notified CBI of its intention to terminate the Financing Commitment or not to provide the Financing. There are no conditions precedent or other contingencies related to the funding of the full amount of the Financing, other than as expressly set forth in the Financing Commitment. The aggregate proceeds available to be disbursed pursuant to the Financing Commitment, together with available cash on hand and availability under CBI’s existing credit facility, will be sufficient for the Buyer Parties to pay the Purchase Price hereunder and under the Brewery SPA and all related fees and expenses on the terms contemplated hereby and thereby in accordance with the terms of this Agreement and the Brewery SPA. As of the date hereof, CBI has paid in full any and all commitment or other fees required by the Financing Commitment that are due as of the date hereof. As of the date hereof, the Buyer Parties have no reason to believe that CBI and any of its applicable Affiliates will be unable to satisfy on a timely basis any conditions to the funding of the full amount of the Financing, or that the Financing will not be available to CBI on the Closing Date.

  • Employability Executive acknowledges (i) that Executive has sufficient abilities and talents to be able to obtain, upon the termination of Executive’s employment, comparable employment from another business while fully honoring and complying with the above covenants concerning confidential information and contacts with the Company’s or any of its Affiliates’ customers or employees, and (ii) the importance to the Company and its Affiliates of the above covenants. Accordingly, for a period of one (1) year following the termination of Executive’s employment with the Company and upon the Company’s reasonable request of Executive, Executive shall advise the Company of the identity of Executive’s new employer and shall provide a general description, in reasonable detail, of Executive’s new duties and responsibilities sufficient to inform the Company of its need to request a court order to enforce the above covenants.

  • Compatibility 1. Any unresolved issue arising from a mutual agreement procedure case otherwise within the scope of the arbitration process provided for in this Article and Articles 25A to 25G shall not be submitted to arbitration if the issue falls within the scope of a case with respect to which an arbitration panel or similar body has previously been set up in accordance with a bilateral or multilateral convention that provides for mandatory binding arbitration of unresolved issues arising from a mutual agreement procedure case.

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