The "PPA and FPA Agreements" course takes place online, being designed to provide participants with details about the contractual and commercial frameworks underpinning both traditional power offtake and the growing flexibility markets

In the current context of intensifying interest in investments in electricity production, it becomes very important to know the PPA type contracts that are the basis for obtaining financing for these projects. These contracts guarantee the bankability of the project and reassure the financing party that it can recover its investment, being a critical part of the procurement phase. Negotiating such a contract takes time and requires detailed knowledge of the possibilities of these types of agreements.

At the same time, the rapid expansion of renewable generation, battery storage and demand-side flexibility is transforming electricity markets across Europe, including Romania. As power systems become increasingly decentralized and volatile, flexibility has become a critical resource for maintaining grid stability, managing imbalance exposure and optimizing energy portfolios. Battery Energy Storage Systems (BESS) are emerging as one of the most important providers of this flexibility, and Flexibility Purchase Agreements (FPAs) are increasingly used to structure and monetize it — allocating dispatch rights and revenue streams while managing market risk and supporting project financing.

 

 

This course provides a practical introduction to both PPA and FPA frameworks, covering project financing, bankability, tariff and revenue structures, risk allocation, and negotiation considerations. Participants will gain a general understanding of how these agreements are designed, negotiated and implemented, and how they interact with market mechanisms, regulatory requirements and operational constraints. The program is relevant to everyone involved in the structuring, financing or optimization of power and flexibility assets.

 

​CURRICULA

• Introduction to Power Purchase and Flexibility Purchase Agreements

  • Project financing and bankability

  • Role of PPAs and FPAs in the energy transition

• Role of Flexibility in Modern Power Systems

  • Increasing renewable penetration and system volatility

  • Role of flexibility assets in balancing the grid

• PPA Structures and Market Roles

  • Roles: developer, SPE, customers, contractors, investors

  • PPA obligations

• Battery Energy Storage Systems (BESS) and Revenue Stacking

  • Technical characteristics of BESS

  • Revenue volatility and merchant exposure

• Introduction to Flexibility Purchase Agreements (FPAs)

  • Portfolio hedging

  • Common FPA structures

• Market Participants and Counterparties

  • Offtakers / optimizers / Asset owners

  • Dispatch rights

• Key Contractual Elements in PPAs and FPAs

  • Asset specifications

  • Commercial terms

  • Performance and availability

  • Risk allocation

• Invoicing and Payment

  • Invoicing and payment procedures

  • Cash settlement considerations

• Bankability and Negotiation Considerations

  • Credit support mechanisms

  • Balancing merchant upside vs revenue certainty

• Risk Allocation and Mitigation

  • Risks – allocation and mitigation

  • Force majeure

  • Insurance

• Dispute Resolution