Insurance claims during construction and operation of PV arrays
As renewable energy technology continues to mature and improve, new projects are being announced in many non-traditional markets like the Middle East and Asia. The Kingdom of Saudi Arabia, for example, will launch tenders for seven large-scale solar power projects totalling 3.3 GW this year alone. Many more projects have been announced in Jordan, Turkey, Egypt, Kuwait, and the UAE, which are among the many countries rushing to diversify their power generation away from fossil fuels.
Once awarded, utility scale PV array projects pose a serious challenge to insurers, in part due to their sheer size, remote locations, and the complexity of contracts required to complete construction. Though the technology has performed well over the years, there have been isolated issues related to the electrical infrastructure that have led to major and complex losses.
This workshop is designed to explore the insurance challenges presented by claims arising from utility scale PV plants during construction and operation. The presenter will provide a technical background of the technology highlighting emerging risks and will then describe losses that are commonly experienced by contractors and operators. The workshop relies heavily on actual cases to illustrate techniques used to manage claims and overcome obstacles during the process.
