Letter of Intent (LOI) for Power Purchase Agreement
This Letter of Intent (“LOI") is designed for a solar power purchase agreement (“PPA”). The LOI contains binding and non-binding commitments between the solar developer and customer (host) while final PPA documents are completed. Key terms covered in this LOI include an exclusivity period, proprietary rights, system specifications, an electricity rate cap, energy output requirements, electricity production guaranty, options to purchase, rights of access and financial guaranties. It can be helpful to agree on these key PPA terms at the outset of a project to ensure that the full set of PPA project documents can be completed upon terms acceptable to both parties. Many parties find this LOI useful to ensure that the typical "deal breaker" type of sticking points are agreed upon.
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