Introduction
Contracts are a fundamental building block when modeling renewable energy portfolios on Tensor Cloud. Contracts on Tensor Cloud are relevant for simulations and for generating asset management baselines.
Each asset can be associated with one PPA and/or one bilateral contract. These contracts define the terms under which asset generation and environmental value are being sold during the contract period.
You can see a list of contracts in your workspace by clicking on Contracts in the main navigation bar.
Contract types
Tensor Cloud supports two types of contracts:
Power purchase agreements (PPAs)
PPAs define the terms under which asset generation is being sold to the PPA offtaker during the contract period. To create a PPA, press the "Add new" button on the top right of the contract list and select "PPA". This will open a dialog where you can define the PPA terms. The dialog is divided into several sections, each of which is described in PPA settings.
Bilateral agreements
Bilateral agreements are used to model direct sales of environmental value from an asset. These can be managed independently from a PPA. To create a bilateral agreement, press the "Add new" button on the top right of the contract list and select "Bilateral agreement". This will open a dialog where you can define the bilateral agreement terms. The dialog is divided into several sections, each of which is described in Bilateral agreement settings.
Changing a contract will re-run simulations for all connected assets. This can take a few minutes, depending on the size of your portfolio.