EBCE 2020 Renewable Energy & Storage RFO Attachment E.3 Power Purchase Agreement Term Sheet – Stand-alone StoragePower Purchase Agreement Term Sheet • October 29th, 2020 • California
This indicative term sheet (“Term Sheet”) is entered into as of _____, 2020 (the “Effective Date”) between East Bay Community Energy Authority, a California joint powers authority (“EBCE”) and [Respondent Name] (“Respondent”) in connection with the 2020 Renewable Energy & Storage Request for Offers (“RFO”). This Term Sheet is intended to set forth the key commercial terms and conditions to be included in a proposed power purchase agreement (“PPA”) between Seller and Buyer for the purchase and sale of the Product (the “Proposed Transaction”) from the Facility. Negotiation of the PPA is subject to Buyer selecting the Proposed Transaction for the negotiation shortlist, the terms and conditions of the RFO, timely execution of the Exclusive Negotiating Agreement (as defined below) and posting of the Shortlist Deposit (as defined in the Exclusive Negotiating Agreement) by Seller. Until a definitive PPA is approved by EBCE management and the EBCE Board of Directors, and signed and delivered,
