A Q&A with senior underwriter, Jonny Allen A long with the environmental benefits of clean energy, the economic value of offshore wind power in America is expected to be notable. An Eastern seaboard state in the U.S. could expect at least $600 million in economic benefits from one offshore wind farm, according to the advocacy…

Since 1995, the wind energy industry has suffered more than $5.2 billion in commercial losses associated with intellectual property (IP) risks, which went unmitigated and could have been avoided. This is according to analysis from IntelStor LLC, a cloud-based market intelligence ecosystem for renewable energy. IntelStor has found that these losses are partly in the…

Component vulnerability, defective designs and changing OEM warranties, coupled with extreme weather damage, have significantly increased the frequency and severity of insurance claims in the U.S. renewable energy market over the last five years. In response, insurers and asset owners must reset their benchmark for renewable energy risks, in line with this higher ‘normal’ loss…

GCube Insurance, a provider of renewable energy insurance services, has highlighted the need for renewables to prepare for out-of-season extreme weather damage. In recent years, extreme weather events such as wildfires and hurricanes have been occurring outside of expected times and locations and increasing in severity. Insurers, including Swiss Re and Munich Re, have reported…

A Q&A with senior underwriter, Jonny Allen Offshore wind is quickly gaining momentum in the United States. The last year brought a wealth of new news stories related to offshore auctions and state commitments to developing wind farms, particularly in the Atlantic. Although the focus has been on siting and environmental permitting, one critical aspect…

Insurance discussions for wind projects are an important but, at times, complex topic. Each wind project is unique with a different set of conditions and nuances, which may be magnified at offshore wind sites given the harsh marine environment. In this WindTalk podcast, we speak with Jonny Allen, Senior Underwriter and Head of Offshore Renewables…

GCube, a provider of renewable energy insurance services, has launched a new Cyber Risk policy, uniquely designed to tackle the specific threats posed to clean energy asset owners by a recent rise in cyberattacks on global power generation and transmission infrastructure. This new offering has been unveiled at the GCube Advisory Council meeting this week…

In response to Ontario’s Independent Electricity System Operator (IESO) grid compliance, ZephIR has replaced the operational met mast on Port Ryerse Wind Farm, Ontario, Canada with the company’s 300 wind LiDAR (light detection and ranging device — LiDAR uses light to measure wind characteristics). The wind farm consists of Siemens 3-MW SWT3.0-113 with 99.5m hub height, de-rated…

By Jatin Sharma, Head of Business Development GCube Insurance The wind market is growing — up some 21% globally, according to Global Wind Energy Council — and expanding into new territories. This is good news for the industry, but also means a changing risk profile that can pose a concern for asset owners. For example,…

Fitness trackers and smart watches provide a new avenue for discovery of damages in litigation, and we’ve only just begun to see the possibilities for its use in the courtroom.

Modern Energy Management (MEM), a specialist in delivering project lifecycle certainty to renewable energy developers, financiers, and investors, will carry out marine warranty surveying (MWS) services at Indonesia’s first utility-scale wind project on behalf of GCube Underwriting. Under the terms of the agreement, MEM will provide risk-management services related to the offloading of turbine generator components for the…

Wind turbine performance warranty claims are about to get way more complicated and murky and the reason is the newly-released international standard for power curves: IEC 61400-12-1: 2017.

By Geoffrey Taunton Collins; Weather Risk Analyst GCube Underwriting Ltd. As the global wind sector matures, the risk profile of development and operations is changing rapidly. Once confined to more developed and secure markets, the U.S. wind industry is now facing logistical and technical challenges of building and operating projects offshore, and in testing lower-wind onshore…

Failure to efficiently transfer weather risk has left wind-energy stakeholders across the globe with untapped asset values. The total: an estimated USD $56 billion. This estimate, produced by leading renewable energy underwriter, GCube Underwriting, emphasizes the long-term financial impact of wind-speed volatility on portfolio and project revenues and highlights the size of the market for…

Specialist renewable energy underwriter, GCube Insurance Services, has announced that it now provides coverage for over 4 GW of Canadian wind assets. This figure is expected to increase in the coming months with the strong construction pipeline for new wind infrastructure in the country. As of last year, and following the installation of a further…

The report revolves around three key recommendations. The first is risk awareness and communication – citing the need for better communication of hazard, probabilities, risk and what actions to take when providing early warning services to communities.

GCube, an underwriter for renewable energy initiatives, has responded to increasing demand from U.S. wind project-financed wind operators, notably those refinancing or going through acquisitions, by strengthening its underwriting team and rolling out its unique Weather Risk Transfer mechanism across the North American market. Demand for tailored risk transfer solutions has reached an all-time high in…

GCube Insurance Services (GCube), underwriter for renewable energy, has enhanced its presence on the West Coast of the U.S., with a number of significant additions to the underwriting, claims, and business development teams based out of Newport Beach, California. California has taken a leading role in the adoption of renewable energy in the U.S., with…

Renewable-energy insurer, GCube Underwriting, has expanded its portfolio of underwritten Irish wind energy assets, now surpassing 1 GW of operational wind farms and construction sites throughout the Republic of Ireland and Northern Ireland. Ireland is one of the most successful markets worldwide for wind energy use, with just under a quarter of total electricity demand…