Supply Agreement of Renewable Energy (SARE)
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The Supply Agreement of Renewable Energy (SARE) is a contractual arrangement that facilitates the procurement and delivery of renewable energy from a supplier to an off-taker. Under a SARE, the supplier, typically a renewable energy developer or generator, commits to supplying a predetermined quantity of renewable energy to the off-taker over a specified period. The agreement sets out the terms and conditions, including the pricing structure, duration, and delivery mechanisms for the renewable energy. SAREs play a crucial role in promoting the adoption of renewable energy sources by providing a stable and predictable market for renewable energy producers. They offer several benefits to off-takers, including a reliable and cost-effective source of clean energy, reduced carbon emissions, and the ability to demonstrate environmental sustainability and corporate responsibility. SAREs also contribute to the growth of the renewable energy sector by providing long-term revenue streams for project developers, thereby facilitating the financing and development of new renewable energy projects. As the demand for renewable energy continues to rise, the Supply Agreement of Renewable Energy serves as a valuable tool in accelerating the transition to a more sustainable and low-carbon energy future.
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