Climate & Environment
Sleeved PPA
A power purchase agreement routed through a utility that "sleeves" the contracted renewable electricity through the grid to the buyer.
Definition
A sleeved PPA is a renewable power purchase agreement in which a utility or licensed supplier acts as intermediary: the corporate buyer contracts with a renewable generator, and the utility physically delivers equivalent power through the grid to the buyer's sites, managing balancing and settlement for a sleeving fee. It contrasts with direct physical PPAs (limited to co-located supply) and purely virtual/financial PPAs (contracts for difference with no power delivery).
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