(1) Except as provided in Subsections (2) and 11-13-204(3), each agreement under this chapter shall extend for a term not to exceed 50 years.
(2) Subsection (1) does not apply to an agreement to which:
(a) a project entity is a party;
(b) an electric interlocal entity is a party; or
(c) an energy services interlocal entity is a party.