Climate Changed
Oregon Solar Projects Get Insurance to Guarantee Production
- GCL New Energy developing 50 megawatts of solar projects
- KWh’s ‘solar revenue put’ ensures 95% of power plants’ output
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GCL New Energy Holdings Ltd. is managing the risk related to the unpredictable nature of the sun, with an insurance-like policy that will guarantee the production from solar projects it’s building in Oregon.
KWh Analytics, a San Francisco-based risk-management software company, structured the coverage for the 50-megawatt solar portfolio, according to a statement Wednesday. Swiss Re AG is backing the insurance product and PNC Bank NA committed tax equity financing for the four solar farms. Terms weren’t disclosed.