PPA termsContract reference
PPA 2nd Amendment - Key Terms
Equistar Chemicals LP (LyondellBasell) - effective 2026-04-30 (partial execution). Pricing and core model dates load from the workbook data file.
Dedicated reference page for the PPA 2nd Amendment terms used by the Bravo cash-flow model. Pricing and core model dates below load directly from
1159-bravo-financial-model-data.json.Loading model terms…
Pricing & Phasing
| Phase | Rate | Notes |
|---|---|---|
| Loading pricing terms… | ||
Schedule & Term
COD target
--
From EPC Exhibit C schedule source
Total project life
--
PPA 1-4 plus merchant tail
Dev Security due
2026-05-14
Within 10 business days of Amendment effective date
Performance & Security
Dev Security: $2.5M ($50K/MW × 50 MW). Cash, LOC, or Parent Guaranty accepted.
Ops Security at COD: $125K/MW × installed MW = $6.25M.
| COD anniversary | Security level | Amount at 50 MW |
|---|
| Form accepted | Modeled carry | Notes |
|---|---|---|
| Cash | 4.5% | Opportunity-cost carry on posted cash security. |
| Letter of Credit (LOC) | 1.5% | Bank fee assumption for LC-supported security. |
| Parent Guaranty | 0% | No explicit modeled cash carry. |
Source Citations
- PPA 2nd Amendment dated 2026-04-30, §2(g), amending PPA §11.2.
- Partial execution footnote: Equistar Chemicals LP / LyondellBasell execution copy is partially executed.
Not Yet Modeled
- Curtailment terms
- Make-whole / liquidated damages
- Renewal/extension option language
- Must-close-by date / NTP deadline
The above terms are part of the executed PPA 2nd Amendment but not currently parameterized in the model. Add if material to financial projections.