GL Renewables Certification (GL RC) has published its new “Guideline for the Certification of Offshore Wind Turbines.” This guideline was compiled by GL Renewables Certification in cooperation with its Wind and Marine Energy Committee. The new guideline, which will be unveiled at EWEA 2013, provides a fully integrated design and analysis concept for offshore wind…
DNV and GL to merge
DNV and GL have signed an agreement to join forces. The new entity, called DNV GL Group, will be one of the world’s leading ship classification societies and risk experts in the renewable energy, oil and gas, power sectors, and among the global top three in management system certification. “Clients will benefit from an increased…
Consultancy assists wind-farm developer finance 265 MW
Independent Engineering (IE) services provided by GL Garrad Hassan have helped Pattern Energy to realize construction loan financing for its Ocotillo Wind Power Project. The project will be Pattern Energy’s fifth operating wind project in North America and is located almost entirely on federal BLM (Bureau of Land Management) land in California’s Imperial Valley. When…
Technical innovation key to U.S. offshore wind
The success of the North American offshore renewable energy industry will depend as much on future, sustained investment in technological innovation, as it will on backing offshore power projects. A provider of underwriting services for renewable energy projects, GCube, has collaborated with Seattle-based renewable energy technology developer, Principle Power, to underwrite the firm’s pioneering floating…
The excessive and essential in the world of risk management: Project Construction
The most volatile timeframe for something “bad” to happen in a project’s lifecycle is during construction, which makes securing proper builder’s risk coverage extremely important. Builder’s risk coverage is protection for equipment and materials that will become part of a final project up to the Commercial Operation Date (COD). Such coverage includes turbines, foundation, transmission,…
Avoiding $100,000 a day losses
Bringing a wind project to fruition is a multi-phased process. Financing and approvals are understandably foremost on developers’ minds, while risk management and loss prevention rarely top their “to do” lists. Yet every phase of the project: from planning, through to construction, maintenance, and ultimately disposal, poses risks that deserve thorough consideration. An effective risk…
Insurance firm increases offshore wind project capacity by $100M
An insurance services firm for the renewable-energy industnry, has added an additional $100 million to its existing offshore renewable energy project capacity. GCube says significant growth in the offshore renewable energy sector, particularly in Europe, and potentially the US and South East Asia in the near future, brings a market need for insurance capacity that…
The excessive and essential in the world of risk management
Project development is an incredibly long and frustrating procedure filled with a series of hurry-up-and-wait timelines and 100-plus page contracts. One mistake projects fall victim to is not including their risk management representative in contract negotiations. Within all of these contracts (land lease, TSA, interconnection agreement, BOP/EPC, O&M agreement, PPA, financing agreement, and more) there…
What to do when your turbine warranty expires
Looming deadlines of expiring turbine warranties have project owners taking stock of options and planning their next steps. Lender requirements, project lifespan, and maintenance concerns are just a few factors owners must consider. The good news is that there are more options available than ever before. Project owners usually consider a third-party warranty, an OEM’s…
Catastrophic Insurance for Wind Farms
Fraser McLachlan CEO GCube Insurance services, Inc. Newport Beach, California www.gcube-insurance.com The insurance market thought it had a bad 12 months with Australian fires and floods, plus the New Zealand Earthquake. Then Japan happened. The world is still reeling from the horrific damage and loss of life due to the March earthquake and tsunami. Governments,…
Enhanced defects coverage for established wind farms
An insurance company focused on renewable-energy projects has launched an Enhanced Defects Coverage program. This provides a realistic and dependable response to equipment upkeep and maintenance when no longer covered by a traditional manufacturer’s warranty. Enhanced coverage comes at a critical time for the international wind energy industry as machinery warranties expire and wind-farm owners…