What is the product?

Standard and complex green energy risks like those arising from offshore wind power in deep sea water, or thermal solar power plants in remote areas, are key challenges in this sector. Risks range from mechanical breakdowns, natural hazards or unsuitable design of, for example, gear boxes or lightning protection. Such scenarios can lead to substantial losses.

At AGCS, we provide coverage across a number of key technologies in the wind (onshore and offshore) and solar sectors, including wind power plants, photovoltaic, geothermal, biomass and grid connections (e.g. smart grids, High Voltage Direct Current (HVDC) transmission systems). We provide our clients a range of solutions including construction and erection all risk (including delayed start up), operational all risk (including business interruption), and third-party liability.

How does it support green outcomes?

There is an increasing global need for reliable and comprehensive renewable energy in every shape and form. This is especially the case for wind and solar power. However, as the number and size of these projects increases, so do the risks associated with them e.g. with regards to natural catastrophe (Nat Cat) accumulation and the fact such plants are usually located remotely and often without physical presence of staff. Additionally, in this rapidly growing sector, projects are often based on advanced technologies. This translates into a need to provide customers with reliable, comprehensive and tailor made renewable energy insurance products/solutions for these projects in order to make them bankable, particularly for larger projects.

At AGCS, our specialists have a proven track record of supporting the development, construction and operation of such projects.

How does it enable customers today?

Clients are established engineering firms, energy providers and manufacturers as well as pioneers in green energy globally.