Energy assets are costly to build and test and require a solid business case with reliable cashflows to receive efficient financing. Project owners of new alternative energy technologies require assurance and tangible protection to cover their lost income in case the asset experiences failures. Having this gives the project owner financial certainty. It literally makes the technology bankable.
To assure and protect a project owner, specialised energy insurance companies have emerged to provide bankable protection. AW-Energy uses Parisco, a Norwegian company, to provide breakdown and business interruption insurance to owners of the company’s wave-energy installations. The company’s newest project is underway off the coast of Portugal. The project is located in Peniche, a small peninsula about an hour and a half north of Lisbon by car. Site licensing and permitting are in progress. Grant financing has been secured and the investors and customers are major utilities.
Contact Christopher Ridgewell, AW-Energy Oy, email@example.com
Source: EE plublishers