In the absence of a specific renewable energy law to provide for a pricing mechanism and interconnection with the grid, a PPA is considered the baseline document for all renewable energy projects.
The PPA would typically be concluded between the sponsor (or the sponsor's SPV) and either GECOL or REAOL. It is expected that the NOC will be an important partner for all export-oriented projects, for example where the renewable energy project shall fuel the production of green hydrogen that can then be exported to Europe. In addition, the NOC may, in future, be a potential off-taker.
The PPA provides a comprehensive contractual framework for projects and regulates the technical specifications including the allocation of the project land, the connection to the grid, the off-take of the electricity produced by the project, and the purchase price
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