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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 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.