Insuring our clean energy future
By providing cover in more than 140 countries around the world, we are proud to be a global leader of renewable energy insurance, supporting our Corporate Responsibility ambition of securing a Sustainable Future. We have an international team of experts, making us uniquely able to advise on all existing forms of renewable energy, as well as on the viability of innovative, new technologies.
2015’s Conference of Parties in Paris is just one recent, major, global agreement focused on securing society’s low carbon future. An essential part of this future is moving to cleaner energy production: energy supplies that meet the power demands of everyday life without pollution but with resilience to the risks of climate change.
While we already have expertise in wind, solar, hydro, bio, wave and tidal power, right now new transmission and distribution trends and technologies, like grid-to-grid connections and offshore wind farm clustering, are proving most exciting. As renewables generate an intermittent source of energy, grid-to-grid connections support the flow of energy between multiple projects and countries to ensure a constant supply. Off-shore cluster projects make use of a single deep sea cable to bring energy ashore from several different wind farm sites, thereby reducing transmission and distribution losses. Both technologies reduce the amount of energy wasted and maximise the renewable energy potential.
Another great example of forward-facing technology is floating wind turbines. Much cheaper to build and maintain, they create the prospect of greatly reduced costs per MWh of energy. We have put our skills to use by insuring the construction of the first and third stages of the Fukushima Floating Offshore Wind farm, in Japan. With a total capacity of 16MW, this will become the world’s biggest floating offshore wind farm - a truly innovative project built as a response to the Fukushima nuclear power plant accident in 2011.
As a respected authority on renewable energy insurance, we are working with businesses and governments to make things better together in our move towards a low carbon future. We are playing a vital role in furthering the viability and uptake of renewable technologies that can, be the future of our energy supply.