Renewable energy insurance for large scale solar, wind and fuel cell projects can help free up debt and investment capital from banks, institutional and private investors. Renewable energy insurance policies should include specific coverages and language that ensures capital providers are protected in the event a renewable energy technology does not perform as projected.
Who is insured?
Renewable energy insurance insures the developer, investor, or lender, in a renewable energy project. The project developer may secure the insurance and name the investor or lender as additional insured in the event of a covered loss.
What is typically covered?
Renewable energy insurance should protect the owner/developer, investors and lenders in the renewable energy project from shortfalls in performance. Renewable energy insurance may be manuscripted to protect against technical or mechanical failure of a renewable energy technology or in the event that the manufacturer is unable to service their product due to bankruptcy.