Independent Power Production Facility
Independent Power Production Facility (IPP) means a source that: (1) Is nonrecourse project financed, as defined by the Secretary of Energy at 10 CFR part 715; (2) Is used for the generation of electricity, eighty percent or more of which is sold at wholesale; and (3) Is a new unit required to hold allowances under Title IV of the Clean Air Act; but only if direct public utility ownership of the equipment comprising the facility does not exceed 50 percent.