Lockton has launched a specialised insurance facility designed to streamline coverage for battery energy storage system projects.
As energy storage becomes an increasingly critical component of the renewable energy transition, the broker’s new facility promises competitive pricing through its full-follow structure, providing up to £250m in capacity and a pricing credit within 48 hours.
Michael Bogdan, partner at Lockton Global Energy and Power, said: “Lockton’s role as a broker is to ensure that we are enabling our clients to navigate the ever changing risk landscape in the energy storage sector. With BESS playing a fundamental role in balancing grid stability and integrating renewables, it is imperative that insurance solutions keep pace with technology advancements and investor demands. By simplifying our clients’ ability to secure cost-effective cover, BESS Lock will help accelerate the deployment of energy storage solutions globally.”
The broker’s LGE practice has provided tailored energy storage risk solutions for projects in Europe, the US and Australia since 2014.
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