SberInsurance provides a RUB 86.4 bn coverage for solar and wind energy generation plants in 2023
To mark Earth Day, SberInsurance experts calculated that, in 2023, the company insured 16 power plants that use renewable energy sources (RES), nine of which are solar and seven are wind energy generators. The total insured amount was RUB 86.4 bn.
Solar energy generators are located in Krasnodar Territory, Zabaykalsky Territory, Adygea Republic, Buryatia Republic, Kalmykia Republic, Chechen Republic, and Astrakhan Region. Wind energy generators are located in Astrakhan Region, Rostov Region, and Volgograd Region.
The insurance contracts include protection against all types of risks, including fires, lightning strikes, natural hazards, and unlawful third-party actions. Certain contracts also cover equipment failure and production downtime risks.
The total capacity of RES-fired power plants insured by SberInsurance is 856 MW.
Apart from the already operational power plants, SberInsurance’s portfolio includes contracts with RES work-in-progress RES facilities, which feature construction work and third-party liability insurance.
Zara Gevorkyan, head of Corporate Insurance, SberInsurance:
The energy sector plays a key role in driving the country’s sustainable economic development. Current electric power industry development trends focus on working with renewable energy sources, as they are more environmentally friendly. Nevertheless, so far, they are not as widely used as the traditional ones. Therefore, there are few risk assessment experts who can evaluate these power plants. We are proud to be able to provide our clients with a high level of expertise in the insurance coverage of solar panel and wind power plants. The total installed capacity of solar and wind power plants insured by SberInsurance would be enough to cover the electricity needs of an entire Russian region.
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