The role of insurance in accelerating investment and deployment of energy storage
The critical role insurance can play in getting new energy and renewable projects off the ground was the focus of discussion at the Energy Storage Summit (ESS) in Austin, Texas where Ross Kiddie was a panel speaker.
The ESS conference is the largest USA downstream focused event addressing energy storage, and saw record attendance this year. Ross Kiddie, Altelium’s Manager for North America was part of a panel focussing on risk management structures in the USA.
The role of insurance as a catalyst or essential component of bankability was the subject of many questions to the panel.
Here Ross summarises the five key questions and insights that Altelium looks for to make a project insurable during construction:
- Is it a credible firm? Do they have the technical skills? Are they capitalised properly? Can we meet the team and get to know them.
- What technology are they using? Where are the batteries coming from? Do they have a contract in place?
- Where are the batteries being stored? When is the site being commissioned?
- Who designed the plant? What is the design like?
- What are the nat cat risks?
To discuss any of these subjects in more detail, or to speak to one of our battery insurance and health experts please get in touch, call +44 (0) 207 293 7070 or email firstname.lastname@example.org
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