Parametric Insurance for the Renewable Energy Industry

Learn more about how Descartes’ innovative parametric solutions can accelerate the green energy transition by facilitating risk transfer for renewable energy producers.

As the energy and renewables markets rapidly evolve, climate risks carry significant impacts for energy production and threaten infrastructure. Both offshore and on-land energy projects face a variety of risks throughout their life cycle, spanning from extreme natural disasters to everyday volatility in energy output. With greater global adoption of renewable energy to meet stringent carbon emission targets, innovative insurance solutions are essential to protect profit margins and mitigate the financial risks faced by renewable energy producers and investors. 

Descartes’ parametric insurance solutions offer comprehensive protection for renewable energy projects against a full spectrum of weather-related risks. 

Our solutions are designed for all stakeholders in the renewable energy sector, including owners, developers, investors, lenders, and buyers of renewable energy. By covering both tangible and intangible losses resulting from weather risks, such as tropical cyclone, hail, and lack of rainfall, we help safeguard balance sheets. Employing a data-driven, straightforward index-based approach, our parametric insurance ensures rapid payment upon the occurrence of predefined events, without the need for on-site claims adjusting. This empowers clients with the financial reliability and confidence needed to advance the green energy transition. 

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Our case studies are all over the world

Utilizing Machine Learning and real-time monitoring from satellite imagery & IoT, our state-of-the-art technology helps businesses bounce back faster against climate, cyber and other emerging risks.

  • Global Renewable Energy Lack of Wind Parametric Insurance Against Wind Power Volatility in India See the case study
  • Global Renewable Energy Low/high river level volatility Parametric Yield Insurance for Hydroelectric Plant Revenue Loss See the case study
  • North America Renewable Energy Hail Descartes’ Alternative Risk Transfer Solution for Solar Industry See the case study
  • North America Renewable Energy Extreme temperatures A New Generation of Cover Against Extreme Cold in Texas See the case study
  • Asia Renewable Energy Lack of Wind Offshore Wind Insurance: Parametric Solution for Windfarms See the case study
  • Asia Renewable Energy Earthquake Supporting Renewable Energy Projects Against Earthquake Risk See the case study

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