Prior to 2019, there was an ample number of insurers willing to provide renewable energy insurance, leading to plentiful, affordable cover being available for solar power project finance transactions. However, with increased claims and risks, price rises and lower availability of cover is impacting the sector. Duncan Gordon, head of Renewable Energy at specialist energy insurance brokerage and risk management firm Gallagher, provides an overview of how solar power project owners can navigate a challenging insurance market.
India’s state-owned National Hydroelectric Power Corporation (NHPC) has signed an agreement with the Green Energy Development Corporation of Odisha Ltd (GEDCOL) for the development of 500MW of floating solar projects in the eastern state of Odisha.
US solar companies have continued their push in the electric vehicle (EV) sector with Enphase Energy completing its acquisition of EV charging outfit ClipperCreek, while iSun bagged a contract to design and deliver almost 2,000 off-grid solar canopies to be located at EV charging stations across the US
Silicon Ranch has raised US$775 million in new equity capital to help progress on its existing project pipeline, enter new markets and pursue acquisitions.
JinkoSolar has won a tender issued by the China Petroleum Engineering and Construction Corporation (CPECC), an affiliate company of the China National Petroleum Corporation (CNPC), for up to 1.85GW of high efficiency TOPCon modules
Renewables developer Hero Future Energies (HFE) has formed a partnership with electrolyser manufacturer Ohmium International to develop and build 1GW of green hydrogen plants across India, the UK and Europe.
French operations and maintenance (O&M) company NovaSource Power Services has acquired aerial inspections and site data firm Heliolytics in a move that NovaSource said will strengthen its ability to provide lifecycle services to the renewables sector
US utility Appalachian Power has unveiled plans to acquire or contract for nearly 300MW of solar PV over the next three years as it transitions towards net zero status by 2050.
Renewable integration, sufficient energy storage and market uncertainty are three of the top five challenges facing Asia’s power sector today, according to Black & Veatch’s Asia Electric report that also overwhelmingly named hydrogen as a key decarbonisation method beyond the next decade
