PV performance guarantee insurance
Guarantee the expected system output of a PV solar project
Guarantee the expected system output (yield) of a PV solar project. The power output of a project is dependent on the amount of solar irradiance and also from individual risk that can affect the system’s performance ratio. If any of the named perils causes the actual yield of the project to fall below the insured level, this cover will indèmnify such loss.
More about the PV performance guarantee
Choice of coverage duration from 1 year to 12 years. A longer duration is possible. The coverage can’t be cancelled during the discussed duration. No annual renewal required.
Pre-agreed fixed €/kWh rate for certainty of loss indemnification.
The actual yield is below the insured level, as a consequence of
a) Reduced system performance ratio; or/and;
b) Reduced solar irradiation; from expected.
Extensive clouding, Component Performance & Availability, Project design losses, Specific O&M related losses.
Complements traditional property and liability insurance, that do not cover the risk of project underperformance due to lack of sunlight and/or technical, operational failures. This guarantee wraps all the project’s underlying warranties into one comprehensive coverage, to provide long term investment grade security to stakeholders.
- Guarantees MWh (floor) on energy production;
- Apply Lloyd’s financial rating instead of module, inverter, O&M supplier non-investment grade;
- An investment grade production guarantee when combined with an investment grade off-take, secures RoI with improved financial risk profile;
- Underwritten on a single utility project or portfolio of projects;
- Flexible structure in terms of own risk and limits;
- Non-cancellable policy with A-rated insurer.