From pv magazine USA
kWh Analytics, an insurer specializing in zero-carbon assets, has announced a new property insurance product in partnership with Aspen Insurance. The offering covers physical damages to solar projects and other renewable energy assets.
A spokesperson for kWh Analytics told pv magazine USA that the product will likely be used for utility-scale solar assets. The company has a database of more than 300,000 operational renewable energy assets. It has insured more than $4 billion of assets to date.
“The shift to a decarbonized economy is the largest macroeconomic revolution of our generation, and insurance will play a critical role in securing its future,” said Jason Kaminsky, chief executive officer of kWh Analytics.
Asset owners have faced substantial cost increases in recent years, presenting a need for new solutions to manage and underwrite risk. Its new insurance product is designed to mitigate risks in a changing market and climate, enabling financing for new projects.
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