Risk management for the renewable energy sector

Transcription

1 Aon Risk Solutions Power Renewable Energy Risk management for the renewable energy sector Plug into protection that s as innovative as your technologies. Risk. Reinsurance. Human Resources.

2 Your projects secure the future. We secure your projects. The renewable energy sector has long been a major economic factor. A market characterised by innovation and investment. Involving all manner of stakeholders in a host of different guises: from project developers to investors, from manufacturers to operators. All stakeholders know that they work in an industry where issues such grid expansion, plant efficiency, energy storage systems and consumption models are closely intertwined. Where risks are often hard to evaluate. And where policy frameworks and key regulations are subject to frequent change. Or where the rate of technological development can mean that long-term plans and calculations are simply overtaken by events. In addition, high cost pressures caused by falling revenues can mean that existing operations are no longer sufficiently profitable, making innovation essential. Aon is familiar with the many challenges facing the various stakeholders. But we don t just offer you extensive industry expertise or knowledge of the specific requirements of those operating in this market. With our specialist team from all relevant fields, we re here to support you giving your project the security it needs. We speak your language. Our global presence and extensive experience allow us to provide the best possible service for all players. For any project. At any location. In any language.

3 From advice to protection: We ve got it all covered. The success or failure of a project depends on many factors. We identify those factors and make them work to your advantage. We do it by calling on a dedicated team of over 200 experts, based in 120 countries and specialising in a wide range of fields. These experts identify, assess and cover the risks involved in sustainable power generation. Over 1,500 clients from the power industry worldwide have already placed their trust in the quality of our service. This represents over 69 gigawatts of installed renewable energy capacity insured through Aon. Experienced in all technologies involved in renewable energy Extensive expertise with international insurance programmes and specific insurance requirements in foreign countries Bespoke renewable energy risk advice; development of tailor-made insurance solutions Professional team of engineers to help you achieve your objectives In-depth contractual allocation analysis and due diligence reports Comprehensive risk assessment and analysis, e.g. estimated maximum loss studies to qualify risks Support in contractual negotiations on riskrelated aspects of supply contracts and contracts for services Advice on alternative risk transfer mechanisms, e.g. use of captives Team of specialists: e.g. engineers for onand offshore operations (including suitability testing), lawyers, marine engineers Extensive experience of processing major claims Access to international insurance markets via the Aon network A central point of contact, coordinating your interests worldwide First-class cover concepts based on extensive experience and knowledge of the latest technical developments Optimum insurance strategy for your project based on in-depth market know-how

4 Who for, and why? Our offer at a glance. We offer intelligent risk management. Focussing not only on your risks. But also on your specific cover requirements. Manufacturers and suppliers Because you want to guarantee your product s performance. Special insurance solutions that go beyond traditional liability and property damage covers are essential for manufacturers and suppliers. Whether you re involved in wind turbines, solar modules, biogas or geothermal plants, storage technologies or grids: long warranties or servicing and maintenance contracts can put a heavy burden on your company s balance sheet. This requires adequate, sustainable protection. Improved security, planning ability and creditworthiness by easing the burden on your capital requirements and covering your guarantee liabilities Special concepts for the coverage of property damage or the failure to achieve/comply with availabilities (cover for financial risks under servicing and maintenance contracts) Insurance solutions to complement servicing and maintenance contracts for your customers Protection for prototypes Investors and banks Because you need to secure your investment throughout the project life cycle. Renewable energy projects continue to offer investors lucrative earnings. However, constant increases in the size of projects and the rapid pace of technological advance also mean that risks are often difficult to quantify. That s why we re able to support projects from a very early stage, ahead of any investment decisions. We can offer you analysis or advice on the coverage of risks from the pre-construction phase right through to commissioning. What s more, we ensure that the interests of investors and banks are adequately protected by specially designed insurance solutions. Protection of property, yields and earnings (loss of profits) by terms of insurance specially negotiated and developed for you Pre-investment advice (due diligence) Benchmarking of insurance concepts Protection of the interests of investors and banks via modern insurance concepts designed to achieve bankability

5 Project developers and turnkey contractors Because time should not cost money. Time pressure is a painful but inevitable feature of any construction project. The worst possible scenario is a loss resulting in construction delays and a substantial increase in costs. Providing intelligent solutions to protect against this significantly reduces the financial risks. Our tailor-made cover concepts for the planning and pre-construction phases of your project offer you extensive protection. Support for the entire project life cycle starting at the planning phase Liaison with insurers on risk-related aspects of the project Insurance concepts tailored to the specific requirements of all parties involved in the project Examination of all insurance covers submitted by all parties involved (planners, main contractors and subcontractors) Advice on risk-related aspects of supply contracts and contracts for services Service/maintenance and operations and management companies Because you want your risks to be quantifiable. The constant increase in installed capacity for renewable energy creates huge potential in the market for service, maintenance, operations and management companies. However, the risks are just as great as long-term contracts go hand in hand with long-term performance obligations. Often, this also involves commitments regarding the technical availabilities of plants. With our expertise and highly effective forms of protection, we can help you exploit the potential and minimise the risks. Cover for commercial and technical operating and management risks Optimum servicing and maintenance contracts through advice on risks and insurance Special concepts to cover property damage or non-achievement of/noncompliance with availabilities Insurance solutions to accompany your customers servicing and maintenance contracts

6 About Aon Aon is the leading global provider of risk management, insurance and reinsurance brokerage and human resources solutions. Our work is based on a comprehensive understanding of risk, opportunity and potential. Our expertise encompasses the unique needs of all regions, markets, sectors and target groups. We aim to offer you customised solutions based on in-depth analysis, so you always achieve your goals. We have more than 72,000 skilled employees dedicated to achieving this aim in over 120 countries, 1,700 of them based at eight locations in Germany. Aon Risk Solutions Power Renewable Energy Caffamacherreihe Hamburg power@aon.de aon.de/renewable-energy Aon Risk Solutions is a division of Aon Versicherungsmakler Deutschland GmbH Registered office: Hamburg Commercial register number: Hamburg HRB Caffamacherreihe Hamburg Registered insurance broker in accordance with 34d (1) Intermediaries register number (German Industrial Code/Gewerbeordnung): D-9F23_QP4LO Risk. Reinsurance. Human Resources.