Optima Insurance Brokers Pvt. Ltd.

Industry Focus

Renewable Energy

Sustainable energy investments are going up across the world. India has tremendous potential to leverage this opportunity and become the ideal investment destination for renewable energy equipment manufacturers and service providers. India is the most developed renewable energy market in South Asia, with annual revenues of about USD 185 billion. The country is already a global leader in Wind Energy and could become a key player in the solar energy space.

Overview

Renewable energy projects are highly dependent on natural resources. This leads to a critical need to protect revenues from weather and technology related performance risks. Such cover is achievable for wind (currently significantly underperforming) and solar based projects.

Also, ‘green’ power, like any other traditional energy sector has the risk of facing an environmental pollution liability by groups objecting to a new facility, or its impact on the environment. The stakes for corporate reputation in this sector can be very high.

Renewable projects have a different range of risks to be insured. The main areas for interest revolve around technology risks and manufacturer warranties and the interface between the manufacturer, installer and owner/developer. Insurance can be purchased by all parties separately or jointly for their different risk profiles but is important to understand the interaction between covers. Revenue protection itself is a complex area.

Optima Edge:

Optima provides a comprehensive and seamless insurance package covering the construction and ongoing operational phases of renewable energy facilities. We support renewable energy risk management and insurance programmes in wind, solar, biomass, biofuel, hydro and thermal projects.



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IRDA Registration Number 326  |  CIN : U66030DL2000PTC103603  |  Category : Direct Broker (Life and Non-Life)  |  License period : 22-03-2018 to 21-03-2021
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