Green Credits definition

Green Credits means “renewable energy certificates” and “environmental and social attributes,” as defined in the Green Energy Incentives Act of Puerto Rico (Act No. 83 of July 19, 2010), renewable energy credits, environmental attributes, emissions reductions, offsets, allowances or benefits however entitled (or payments in lieu thereof), whether monetary, fiscal or in the form of physical property, which are now or in the future may be available to the Facility, as a facility that generates or produces electricity by means of “green energy” (as defined in Act No. 83 of July 19, 2010), or from renewable or non-polluting resources, granted or available to Resource Provider as the owner or operator of the Facility or otherwise, in each case, from any Governmental Authority or third party, including renewable energy credits established pursuant to Act No. 83 of July 19, 2010, but shall exclude (i) any Tax Credits and grants in lieu thereof, (ii) other tax incentives, benefits or credits, including those available under Puerto Rico Act 60-2019, (iii) any accelerated depreciation, and (iv) proceeds from (i) through (iii), in each case, associated with the Facility or otherwise available to Resource Provider, each of which (i) through (iii) Resource Provider expressly reserves.
View Source
Green Credits means “renewable energy certificates” and “environmental and social attributes,” as defined in the Green Energy Incentives Act of Puerto Rico (Act No. 83 of July 19, 2010), renewable energy credits, environmental attributes, emissions reductions, offsets, allowances or benefits however entitled (or payments in lieu thereof), whether monetary, fiscal or in the form of
View Source
Green Credits means collectively the certified emission reduction credits and Environment Credits, save for the exclusion of any carbon credit or heat certificate available under the Kyoto Protocol as amended or substituted from time to time (commonly known collectively as CER or VER reduction credits);
View Source

Examples of Green Credits in a sentence

  • The Parties shall execute all documentation required to confirm the registration of such Green Credits with the North American Renewables Registry or another similar registry acceptable to Resource Provider and PREPA (the “Registry”) and the transfer of such Green Credits as reasonably requested by PREPA in accordance with the rules of the Registry, in each case, at Resource Provider’s expense.

  • PREPA shall have the sole right to own, market, trade, sell or otherwise transfer such Green Credits available to or in respect of the Facility to any Person, and any Green Credits that are now available or in the future might become available in respect of the Facility during the Supply Period shall inure to the benefit of, and remain the property of, PREPA.

  • PREPA shall pay or cause to be paid all Taxes on or with respect to (i) the purchase of Energy Storage Services and the sale of Discharge Energy at the Interconnection Point (including sales tax, excise tax, municipal license tax, and value-added tax), and (ii) the purchase, use and disposition of the Ancillary Services and the Green Credits.

  • Each invoice shall include, as applicable, the Monthly Fixed Payment, Monthly Variable Payment, Other Payment Adjustments, Discharge Energy, Charge Energy, Ancillary Services, Green Credits, the Balance, information necessary to determine Facility performance, insurance payments, credits or payments owing to PREPA, and an itemized statement of all other charges under this Agreement, as of such Billing Period.

  • If, at any time during the Term, Resource Provider accrues a right to Green Credits associated with the provision of the Energy Storage Services, or otherwise generated in connection with the operation of the Facility, then contemporaneously with the provision of such Energy Storage Services or Facility operation, as applicable, and in partial consideration for the Monthly Payments, Resource Provider shall convey to PREPA, at no additional cost, all such Green Credits.

  • The Host Customer and System Owner understand that other program rebates, grants, forgiven loans, financial incentives, post-installation agreements, Renewable Energy Credits (aka RECs, Green Credits, etc.), and performance payments are “other incentives” and must be disclosed as soon as those agreements or payments are made.

  • Landlord shall be entitled to all tax credits, carbon credits and other such credits or entitlements (“Green Credits”) that may be created, credited or recoverable because of energy savings or other sustainability activities conducted within the Building or the Premises, excluding Green Credits to which the Tenant is entitled in accordance with applicable law.

  • Contemporaneously with the sale of Net Electrical Output hereunder and in partial consideration for the Monthly Payments, Resource Provider shall convey to PREPA, at no additional cost, all of the Green Credits associated with the provision of such Net Electrical Output of, or otherwise generated in connection with, operation of the Facility.

  • IP will have audit rights with regard to the calculation of Green Credits per Section 3.4 below.

  • Resource Provider and PREPA shall execute all documentation required to confirm the registration of such Green Credits with the North American Renewables Registry or another similar registry acceptable to Resource Provider and PREPA (the “Registry”) and the transfer of such Green Credits as reasonably requested by PREPA in accordance with the rules of the Registry, in each case, at Resource Provider’s expense.


More Definitions of Green Credits

Green Credits means “renewable energy certificates” and “environmental and social attributes,” as defined in the Green Energy Incentives Act of Puerto Rico (Act No. 83 of July 19, 2010), renewable energy credits, environmental attributes, emissions reductions, offsets, allowances or benefits however entitled (or payments in lieu thereof), whether monetary, fiscal or in the form of physical property, which are now or in the future may be available to the GSDS or the Participant Resources, as a facility that generates or produces electricity by means of “green energy” (as defined in Act No. 83 of July 19, 2010), or from renewable or non-polluting resources, granted or available to Resource Provider as the owner or operator of the GSDS or aggregator of the Participant Resources or otherwise, in each case, from any Governmental Authority or third party, including renewable energy credits established pursuant to Act No. 83 of July 19, 2010, but shall exclude (i) any Tax Credits and grants in lieu thereof, (ii) other tax incentives, benefits or credits, including those available under Puerto Rico Act 60-2019, (iii) any accelerated depreciation, and
View Source