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Climate Insurance Provider Adds Property and BESS Capacity for Renewable Energy Projects 

Climate insurance provider kWh Analytics, Inc. has announced an expansion in its capacity agreement with Aspen Insurance to extend coverage for solar, wind, and energy storage projects. 

The increased coverage will allow kWh Analytics to underwrite up to $75 million per renewable energy project location. The extended capacity covers up to 100% of operational solar and/or battery energy storage systems, as well as up to 50% of wind and/or construction projects.

For years, the renewable energy industry has been plagued by reduced insurance limits and cost increases for asset owners, prompting the need for innovative risk management and underwriting solutions. 

KWh Analytics plans to utilize its proprietary database of over 300,000 renewable energy assets to price and underwrite risk transfer products and reward asset owners for resilience measures. 

According to Fintech Futures, the announcement came on the heels of a significant milestone, just a year after kWh Analytics and Aspen’s partnership was formed to provide property insurance underwriting and increased capacity for renewable energy assets.   

The partnership has enabled the two entities to rise to the top 10 global re/insurance partners in their collaborative network. 

“This increased capacity provides additional options for asset owners who are proactively designing, building, and maintaining resilient assets, and it further strengthens our commitment with kWh Analytics to offer solutions for the growing demands of the renewable energy market,” said Josh Jennings, SVP and head of inland marine at Aspen Insurance. 

Read more here. 

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