SEIA Announces New Model Contract to Simplify Development and Open Investment Capital
Wednesday, Aug 30 2017
WASHINGTON, D.C. - The Solar Energy Industries Association (SEIA) released today a new model contract to pave the way for more development of solar in the commercial and industrial (C&I) sector. The model power purchase agreement (PPA) for commercial customers was developed by SEIA’s C&I Working Group and vetted by some of the top law firms, development entities and financiers in the U.S.
The new PPA is an improved and streamlined version of its predecessor, which was originally developed by the National Renewable Energy Laboratory. Users will find the new C&I PPA Version 2.0 shorter in length, easier to navigate, and simpler to finance.
“By easing the negotiation and contracting processes, the revised model PPA document allows for quicker financing of solar projects and better access to low-cost capital,” said Mike Mendelsohn, SEIA’s senior director of project finance and capital markets. “We are deeply grateful to the wide variety of contributors to the document and want to especially thank the teams at Tesla, Ballard Spahr, Nixon Peabody, and Blank Rome for providing their expertise and leadership in this effort.”
These model contracts are a critical component of SEIA’s comprehensive consumer protection and industry facilitation efforts.
For a list of downloadable model leases and PPAs go to http://www.seia.org/research-resources/model-leases-ppas.
Celebrating its 43rd anniversary in 2017, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry, which now employs more than 260,000 Americans. Through advocacy and education, SEIA® is building a strong solar industry to power America. SEIA works with its 1,000 member companies to build jobs and diversity, champion the use of cost-competitive solar in America, remove market barriers and educate the public on the benefits of solar energy. Visit SEIA online at www.seia.org.
Alex Hobson, SEIA Senior Communications Manager, firstname.lastname@example.org (202) 556-2886