Energy Storage Insurance
Large scale energy storage is now an essential part of the future of the energy market in the UK. With the National Grid having a requirement to procure ‘back up’ storage to improve energy stability supply and subsequently meet their own active power output target.
Subsequently the National Grid are currently working with developers and owner / operators of energy storage projects under schemes such as EFR (Enhanced Frequency Response), FFR (Firm Frequency Response) (Primary & Secondary), Triad (period of time where energy consumption is at the highest demand / consumption) etc.
With the insurance market for energy storage still in its infancy and a clear lack of understanding in the market, Northern Alliance has worked with leading companies within the sector to devise an insurance policy specifically for energy storage projects.
Northern Alliance provide insurance protection for projects attached to existing renewable energy projects or stand-alone projects. We can cater for projects ranging from 100kw through to 50MW including the following energy storage technologies:
- Battery Energy Storage Systems (BESS) – Lithium-ion, Lead – titanate etc.
- Pumped Hydroelectricity Storage (PHS)
- Pumped Heat Electricity Storage
- Liquid Air Energy Storage
We offer a full range of covers from the start of feasibility studies, design stage, construction and operation phase. Covers include:
- Marine Transit
- Contractors All Risks
- Delay in Start Up (Advance Loss of Profit)
- Public Liability
- Operational All Risks (Incl. Damage, Breakdown, Loss of Revenue)
- Cover for Imported Energy or Energy Stored
- Extended Loss of Revenue Cover for Damage to Grid/Substations
- Extended Loss of Revenue Indemnity Period (18 Months)
- Public Liability
- Environmental Liability
- Cyber Attacks
- Decommissioning Bonds
- Defective Title/Chancel etc.
- Combined Liability (Employers & Public Liability)
- Professional Indemnity
- Directors & Officers
- Legal Expenses
Please contact a member of our team to discuss your insurance requirements, Tel No 01924 232912 or firstname.lastname@example.org