battery energy insurance solutions
Expert battery energy storage insurance brokers
Battery energy storage systems are now at the forefront of the UK’s renewable energy mix with the technology being a key factor in maintaining power supply and avoiding outages at peak times of power usage in the UK.
We can arrange insurance for battery energy storage projects of any size in the UK across all stages of the project offering the following covers:
Legal Indemnity Covers (lack of easements, restrictive covenants), Abortive Planning Costs Cover, Judicial Review Cover
Contractors All Risks, Advanced Loss of Profit, Terrorism, Marine Transit, Public Liability
Operational All Risks including Loss of Revenue, Terrorism, Public Liability, Cyber Liability, Environmental Liability
How our battery energy storage experts can help
For any developers, EPC contractors or owner/operators looking to insure a battery energy storage project, our experienced insurance experts are on hand to help you understand and help mitigate the risks involved. They have key industry relationships to help find you the right cover to protect you if things go wrong.
Insurance and risk management for battery energy storage
With any emerging technology like battery energy storage, comes new risk to insurers however one issue that is relatively well known in this sector is the risk of fire. We break down fire mitigation for battery energy storage projects into four main areas when sourcing the best insurance solution:
Planning and Design: Considerations include the overall design of the site and specifically the separation of battery containers and other major equipment i.e transformers, inverters and sub stations. Fire walls could also been introduced into the design of battery energy storage projects. These are generally constructed of concrete or composite materials and positioned between containers.
Construction: The key issue here is in respect of the experience and familiarity of the EPC contractor with battery energy storage technology. Other important construction factors include the use of non-combustible materials within the insulation of the battery containers and the chosen ventilation and suppression systems for the site.
Fire protection systems: Battery energy storage operators should ensure an adequate water supply is available for firefighters and that the local fire brigade have visited to familiarise themselves with the site. The fire brigade will ideally have a plan devised to prevent any re-ignition scenarios and thermal runaway. Remote and continuous online monitoring, early detection sensors, appropriate venting to avoid the build-up of gas and automatic fire suppression systems to FPA 855 standard should also be in place.
Maintenance: Every battery energy storage site should have a dedicated maintenance schedule including monthly preventive checks, thermographic testing and spare parts should be readily available to minimise business interruption losses
Renewable energy project insurance
Planning a bigger project?
Whether this is your first project, or you are an experienced investor, getting insurance cover and mitigating the risks should be a priority during the planning process. We can advise on key areas of company risk to help reduce claims and business disruption.
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As the battery energy storage market matures, the size and complexity of installations increases, operators and insurers are still learning about the risks. We take a look at explaining one of the main risks, fire.