Specialist managing general underwriter, New Energy Risk, and CAC Specialty, an insurance broker have partnered with Erthos, a large-scale renewable energy technology company to develop an insurance-backed warranty product for their Earth Mount Solar technology.
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As the world turns to floating offshore wind to help further unlock the potential of offshore wind energy, the insurance industry has a vital role to play in facilitating successful project deployment and generating sustainable investment returns. In our latest article, Aon’s thought leaders share their perspectives on the opportunities and challenges that floating offshore wind unlocks. Read more: https://aon.io/4bbW8nw #BetterDecisions #Renewables #WindEnergy #OffshoreWind #RiskManagement
Aon | Floating Offshore Wind Unlocks New Opportunities and Challenges
aon.com
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Energy Insurance - Onshore Renewable Energy & Conventional Power Generation. Divisional Director at BMS Group
“estimates that the insurance market for new energy infrastructure is likely to reach $10bn-$15bn by 2030” There is a lot of growth in the renewables market and in turn a lot of partnerships and steady growth in the insurance market needed.
Why insurance is key to speeding up the energy transition
ft.com
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Client Relationship Manager | Decarbonization | Renewable Energy | Energy Optimization & Efficiency| Transportation Electrification |
📈 An ongoing trend in the #cleanenergy industry has been an increase in costs associated with developing and operating #wind and #solar projects. As a buyer one must carefully evaluate risks associated with specific clean energy projects. Our Clean Energy Originator Evan Dell'Olio talks about latest trends and drivers in the #PPA markets. #PPA #RenewableEnergy #InsuranceCosts #CleanEnergy
Insurance costs for clean energy projects are rising. Here’s what buyers need to know
https://www.edisonenergy.com
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5 ways to boost insurers’ confidence in BESS projects... With BESS failures having increased ten-fold, here’s your guide to getting sceptical insurers onside. - Battery storage failures increased ten-fold since 2016 - Solar-plus-storage projects at particular risk of failure - Industry must develop spacing standards for BESS units, says GCube Insurance By Ben Cook #energystorage #batterystorage #insurance #solar #firerisk #energytransition #renewableenergy #safety GCube Insurance #batteries #usa #windenergy https://hubs.la/Q02mQrtP0
5 ways to boost insurers’ confidence in BESS projects - Tamarindo
https://tamarindo.global
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Hoevan - Parent Company of EVSTAR Closes a $2.0 Million Series A Round ASHBURN, VA / ACCESSWIRE / March 20, 2024 Hoevan LLC, parent company of EVSTAR, Prosurety, and TechCycle Solutions, announced today a $2.0 million Series A funding round led by Chris Topolewski of Wick Capital Partners. Hoevan acquired TechCycle Solutions in 2021 and formed EVSTAR in 2022, bringing established product protection strategies and purpose-built services and protection products to the renewable energy ecosystem. "Wick Capital believes in Hoevan's mission, strategy, and differentiated approach to address the service, maintenance, and EV product protection challenges that slow adoption, throttling the transition from fossil fuels to renewable energies. EVSTAR's expertise in product protection, service and maintenance, and financial risk mitigation directly address this blind spot and brand exposure. Backed by research, the current challenges plaguing charging station reliability impact mass adoption and customer satisfaction while introducing significant financial and brand exposure if not addressed. EVSTAR's solutions combined with TechCycle's history of product service, repair and protection, are both innovative and perfectly aligned to increase the pace of adoption to hit the extremely aggressive industry growth forecasts we all hope will come to fruition." Said Chris Topolewski, Founder Wick Capital Partners. Andrew Hoehner, EVSTAR's CEO, commented "EVSTAR continues to hit our primary business objectives to address the key challenges our customers are facing in the still nascent EV charging ecosystem. The additional capital will allow EVSTAR to lean into sales and drive our partnerships with leading companies who are selling and installing EV Chargers. Our warranty services leverage advanced platform capabilities and a white glove approach, all underwritten by AIG (www.aig.com), allowing our partners to offload ongoing service and operations risks and expense to optimize profitability and continue their focus on growth."
AIG Insurance Home | AIG US
aig.com
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Marsh has launched a new insurance solution specifically designed for the transportation and storage of carbon dioxide (CO2). Available to projects globally, Marsh’s unique solution addresses critical insurance limitations that have previously hindered the rapid advancement of the carbon capture and storage (CCS) industry. “Carbon capture and storage has a fundamental role to play in reducing emissions globally and delivering the net zero energy system,” said Hannah Jennings, Global Carbon Capture and Storage Initiative Leader, Energy and Power, Marsh Specialty. “Marsh Specialty’s new solution not only represents a meaningful shift in the parameters of traditional energy insurance but also delivers greater certainty and confidence to investors, governments and regulators.” Created by Marsh’s Energy & Power team and underwritten by Canopius Group, the solution provides comprehensive coverage that enables operators to meet their financial security obligations when captured CO2 is being transported and injected into suitable geological structures. Traditional insurance provision for these risks requires physical damage or disruption to operations caused by an out-of-control well in order for policies to respond. Importantly, Marsh’s solution adds a new non-damage trigger for the geological leakage of CO2, providing an indemnification for the costs of corrective measures, as well as a trigger for the associated business interruption. Marsh’s solution also includes an indemnification for the costs incurred to acquire carbon credits for the mass of CO2 leaked, where applicable to the project’s geography. This indemnification is available across the removal chain, whether the leak occurs from scheduled onshore facilities, the CO2 pipeline or ship, or from the storage complex itself. Sam Harrison, Group Chief Underwriting Officer, Canopius, added: “It’s our job to find solutions to address the as-yet unknown risks associated with these new, exciting technologies. But that doesn’t mean we’re working in the dark – we have decades of experience in finding solutions for traditional upstream energy resource risks, and we can put that experience to work in these new fields. Working with our partners and their clients, we can take learned lessons and find new, innovative ways of addressing tomorrow’s challenges.” #cleanenergy
Marsh launches insurance solution for global carbon capture and storage projects
https://cleanenergypipeline.com
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Today’s clean energy buyers have many considerations in responsibly sourcing electric energy and environmental attributes from new wind and solar energy projects for their organizations. Trio’s Evan Dell'Olio explores the complexities facing clean energy buyers, emphasizing the need to assess project risks and understand insurance requirements. It is crucial for buyers to be informed and proactive in navigating these challenges during procurement. ➡️ Read more: https://bit.ly/3VEGE77 #CleanEnergy #EnergySupplyAdvisory #EnergyProcurement #RenewableEnergy #Insurance
Insurance costs for clean energy projects are rising. Here’s what buyers need to know
https://www.edisonenergy.com
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GCube Insurance, a specialist underwriter in the renewables sector, has announced the establishment of a new consortium designed to provide battery energy storage system (BESS) developers and asset owners with up to $100 million of “A-Rated” Insurance Capacity. Fraser McLachlan, (pictured) Founder & CEO of GCube Insurance, stated: “We have been studying developments in BESS and patiently increasing our capacity over the last 12 years. Our BESS consortium now formalises our significant commitment to the sector." "BESS has reached a point of maturity where more and more capacity is required, but the complexity of mitigating losses with evolving technology also requires this capacity to be well-versed in handling claims and selecting risks. This is the basis for GCube expanding its presence in the sector.” Read the full story here 👉 https://lnkd.in/eTvcRnZ5 #InsurtechInsights #InsuranceNews #RenewableEnergy
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In our latest article, Aon’s thought leaders share their perspectives on the opportunities and challenges that floating offshore wind unlocks. Read more: https://aon.io/4bbW8nw #BetterDecisions #Renewables #WindEnergy #OffshoreWind #RiskManagement
Aon | Floating Offshore Wind Unlocks New Opportunities and Challenges
aon.com
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Managing Director at Sage Enterprises | Incubator for startups at the nexus of Energy & Technology | Chief Commercial Officer at Paratus
The Paratus Group of Companies began with a simple belief that there must be a better (i.e. cheaper and less complex) way for industrial energy consumers and producers to protect against price volatility. The investment from Ara Partners gives us the regulatory capital we need to start writing insurance policies for renewable assets owners, so they can manage downside power price risk without giving away their upside. We can also provide insurance for #airlines so they can effectively hedge their jet fuel price risk, without ever getting a margin call. Very exciting times... .הודו לה' כי טוב, כי לעולם חסדו #insurance #insurtech #privateequity #hedging #energy #renewableenergy #renewables #solarpower #windenergy #jetfuel
PARATUS IS EXPANDING INTO RENEWABLE POWER PRICE INSURANCE FOLLOWING GROWTH EQUITY INVESTMENT FROM ARA PARTNERS
prnewswire.com
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