Great question! These are common terms in the power sector that are always good to know:
PPA – Power Purchase Agreement: Contract between the utility or other customer to purchase electricity from a power generation facility.
IPP – Independent Power Producer: Private or public corporation who is in the business of developing power projects, often globally.
UPP – Unsolicited Power Proposal: A proposal submitted by a project proponent outside of a formal bid process such as a Request for Qualifications or a Request For Proposal issued by the utility or other customer.
EPC – Engineering, Procurement and Construction: Refers to each of the key development stages in a power development process.
FNTP – Financial Notice To Proceed: The date in which all financing for the project has been secured, particularly the equity investor, and project construction can begin.
COD – Commercial Operation Date:The date when a power plant starts producing power.