15 years: Renewable energy & project finance lawyer
In this video, Lachlan covers the overarching challenges facing renewables as a sector and how the project contracts can be used to overcome or otherwise manage these challenges.
In this video, Lachlan covers the overarching challenges facing renewables as a sector and how the project contracts can be used to overcome or otherwise manage these challenges.
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10 mins 20 secs
The renewables sector, like other "sustainable" sectors, is booming and this boom is likely to continue. However, this doesn't automatically mean that renewables projects are easy or abundant. In fact, in many ways, they are becoming increasingly difficult to manage.
Key learning objectives:
What are the overarching challenges faced by renewables as a sector?
How can the project contracts be used to overcome these challenges?
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Connection to the electricity network is necessary for all projects intending to export electricity to that network. Electricity networks are owned and operated by monopolist utilities that provide connection and export services. Boom conditions are driving high levels of market penetration for renewables, and high demand for network connections. High concentrations of renewables projects may lead to network instability. Different approaches exist for combatting this - one approach is to "curtail" generators connected in locations suffering from high instability. PPAs can provide contractual protection for curtailment by recognising "Deemed Energy". Deemed Energy regimes provide that, where generation is lost or does not occur as a result of risks allocated to the buyer, then the seller is deemed to have generated the lost electricity and the buyer must pay for it.
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