Common Contracts
1 similar Energy Storage and Services Agreement Term Sheet contracts
PCE 2024 RFP ENERGY STORAGE AND SERVICES AGREEMENT TERM SHEETEnergy Storage and Services Agreement Term Sheet • June 19th, 2024 • California
This term sheet (“Term Sheet”) is entered into between Peninsula Clean Energy Authority, a California joint powers authority (“PCE” or “Buyer”) and [INSERT SELLER NAME] (“Seller”), as of [mm/dd/yyyy] (the “Effective Date”). Buyer and Seller are each a “Party” and, collectively, the “Parties.” This Term Sheet includes the key commercial terms and conditions to be included in a proposed power purchase agreement (the “ESA”) for energy storage services (the “Proposed Transaction”) to be negotiated between Seller and Buyer. Negotiation of the ESA is subject to Seller’s shortlist selection by Buyer, timely execution of the Exclusive Negotiating Agreement (as defined below) and delivery of the Shortlist Deposit (as defined below) to Buyer. Until a definitive agreement is approved by PCE’s management and Board of Directors, and signed and delivered, no party shall have any legal obligations, expressed or implied, or arising in any other manner, to proceed with the Proposed Transaction or the E
