What is the meaning of Offtaker?
What is the meaning of Offtaker?
1 : the act of taking off: such as. a : the taking off or purchase of goods. b : the amount of goods purchased during a given period.
What is meaning of offtake agreement?
The offtake agreement is the agreement pursuant to which the off-taker buys all or a substantial portion of the output from the facility and provides the revenue stream supporting a project financing.
What is offtake in renewable energy?
An offtake agreement is an arrangement between the project company and the party buying the energy and related products that the project will produce and deliver over time. These arrangements traditionally have been through customized PPAs with terms ranging from 20 to 25 years.
What are offtake rights?
Offtake agreements are legally binding contracts related to transactions between buyers and sellers. The provisions usually specify the purchase price for the goods and the delivery date, even though the agreement is reached before any goods are produced and any ground is broken on a facility.
What does busbar PPA mean?
Under a busbar PPA, the buyer takes delivery of the power at the point where the facility interconnects to the grid. Depending on how a facility’s non- busbar PPA is structured, excesses and deficiencies in power production can create merchant exposure.
Who are off takers in agriculture?
Also called out-grower scheme, off-taking means guaranteed buying off all the harvests of a group of farmers of a particular crop for industrial processing, with relatively stable and mutually pre-determined prices.
What is a take or pay provision?
A take-or-pay clause is essentially an agreement whereby the buyer agrees to either: (1) take, and pay the contract price for, a minimum contract quantity of commodity each year (the TOP Quantity); or (2) pay the applicable contract price for such TOP Quantity if it is not taken during the applicable year.
What is an energy hedge agreement?
A hedge agreement is a contractual device used to lock in a predictable, per unit price against commodity price fluctuations. This is accomplished by the project owner and hedge counterparty financially “settling” the variable market price for such power against such stable, fixed per unit price.
What is an off taker in a PPA?
What is an offtaker in a solar PPA? Put simply, an “offtaker” is the purchaser of renewable energy in a solar development project.
What is offtake risk?
The risk attached to counterparties supplying feedstock or offtaking project product are usually termed ‘supply risk’ and ‘offtake risk’. These risks are associated with the inputs and outputs of a project and the failure of suppliers (or users) or offtakers to pay or otherwise perform their obligations.
What is offtake in project finance?
An offtake contract is a contract under which a third party (the Offtaker) agrees to buy a certain amount of the product produced by a project at an agreed price. The product is often a commodity such as oil, gas, minerals or power.
Which is the best definition of an offtaker?
Offtaker means Citibank, N.A. and any other offtaker that enters into an Offtake Contract, which offtaker (including any counterparty entering into hedging arrangements with respect to an Offtake Contract) is rated at least A2 by Moody’s and is rated at least A by S&P. Loading… Offtaker means each counterparty under each Power Purchase Agreement.
What’s the meaning of a flower at a funeral?
Flower meanings in the West were heavily shaped by the Victorians that inhabited England during the reign of Queen Victoria, which started in 1937 when she ascended the throne and ended in 1901 with her death. The Victorians believed that it was essential to consider the meaning of each flower before giving a bouquet as a gift.
Who is an offtaker in a mineral offtake agreement?
Offtaker means any person other than the Vendor or any of its Affiliates that is a counterparty to a Mineral Offtake Agreement or an Affiliate of the Vendor who contracts with the Vendor on arm’s length commercial terms in respect of the applicable Mineral Offtake Agreement. Sample 1 Sample 2 Sample 3
What do the different types of flowers mean?
1 Rose Meaning 2 Orchid Meaning 3 Lily Meaning 4 Tulip Meaning 5 Daisy Meaning 6 Carnation Meaning 7 Iris Meaning 8 Chrysanthemum Meaning 9 Hydrangea Meaning 10 Poppy Meaning