A combined-cycle power plant is a form of renewable energy in that it uses both a gas and a steam turbine together to produce up to 50% more electricity from the same fuel than a traditional simple-cycle plant. The waste heat from the gas turbine is routed to the nearby steam turbine, which generates extra power.
More and more, we are seeing owners of these combined-cycle plants expand their portfolio into other renewables, such as solar and wind. Our approach is to leverage the size and scale of existing combined-cycle portfolios to improve the overall insurance terms on a multi-vertical renewable energy portfolio.
Bespoke Solutions for the Combined Cycle Industry
Concierge Insurance Services
Sometimes insureds feel like they are discarded or lost at big box insurance brokerages. Not here. With elite, high-caliber, and high-touch customer relations, we provide our clients with a concierge experience that they won’t find elsewhere.
Project finance closing support
We have bolstered our support for your closings by hiring a former STANCE insurance lender consultant on staff. Having represented lenders and tax equity investors on hundreds of renewable energy transactions, our consultant now uses that knowledge to help clients navigate insurance requirements for closings.
Renewable Guard helped innovate the first parametric hail solution for solar 3 years ago. Since then we have expanded to other severe weather exposures. Parametrics have the ability to be far more competitive than traditional insurance.
Tax credit insurance
With the passing of the Inflation Reduction Act, there are more questions than ever about the application of tax credits. This can also give investors heartburn and tax credit insurance is a great solution for addressing these concerns while helping deals get done.
Renewable Guard has helped to develop and provide surety resources that have many use cases in renewables. Bonds can often be used as an alternative instrument for the following: Interconnection Agreements, PPAs, Decommissioning, and Material Procurement or Purchase Order Bonds. Learn how our surety resources can improve liquidity.
How does your existing insurance program compare to the rest of the industry? The RG Scorecard is designed to help answer this question by benchmarking your program to the rest of the industry and providing you with your own personalized scoring.
Master Builder’s Risk
We have developed our own Master Builders Risk product to provide insurance during the construction of your projects. Terms are competitive and offer coverage that is better than the market.
Renewable Guard hosts a class for our clients to educate them and dispel many misconceptions around insurance claims. This class is designed to mitigate loss while showcasing our client support capabilities when claims do occur.