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As a first for UK offshore wind, Dogger Bank C onshore converter station was among the winners of an auction to provide the cheapest options for reactive power to stabilize the grid and reduce grid cost. The converter will provide up to 200 megavolt amperes with a price of 0.34 £/MVAr/SP from April 2025 and ten years on. [33] [34]
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
In October 2021, the Biden administration approved the initiation of mapping out potential lease areas along the Pacific and Gulf of Mexico coasts. [71] In March 2022, five areas off the coast of California were defined for lease. [72] An auction in December 2022 leased the areas for a total of $757 million. [73]
A power purchase agreement (PPA), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government or company. [ 1 ] [ 2 ] PPAs may last anywhere between 5 and 20 years, during which time the power purchaser buys energy at a pre-negotiated price.
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Sunrun was co-founded in January 2007 by Lynn Jurich, Ed Fenster, and Nat Kreamer with a business model in which it offered customers either a lease or a Power Purchase Agreement (PPA) business model whereby homeowners paid for electricity usage but did not buy solar panels outright, reducing the initial capital outlay required by the homeowner.
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