The Insurance-Debt Nexus: How risk policy keeps renewable energy bankable

保险与债务的关系：风险政策如何保持可再生能源的可融资性

• 批准号: 10056290
• 金额: $ 42.21万
• 依托单位: RENEWABLE RISK ADVISERS LIMITED
• 依托单位国家: 英国
• 项目类别: Small Business Research Initiative
• 财政年份: 2023
• 资助国家: 英国
• 起止时间: 2023 至 无数据
• 项目状态: 已结题
• 来源: https://gtr.ukri.org/projects?ref=10056290
• 关键词: Insurance; Debt; Nexus; How; risk

**Pool Re for Energy**This project pioneers a new financial architecture around 'insurability' and 'bankability' for critical national infrastructure. Established in 1993 as a reinsurer of last resort for losses due to terrorism, Pool Re was followed by Flood Re in 2016 regarding climate risks. Successful climate mitigation can be accelerated by an 'Energy Re' where collective self-insurance is initially supported by the State. The best risk managers are the asset owners. So rather than try to educate the insurance companies, better to be the insurance company themselves. As well as enhancing energy security, this also saves money for the consumer.**Context**Known as OFTOs, the offshore transmission owners are special purpose vehicles (SPVs) for high voltage transmission infrastructure which includes export cables to shore that are by statute 'unbundled' by the developer of a windfarm before it becomes operational. These are often highly geared assets, where project finance is crucial to the 6 OFTO owning companies that are responsible for the 23 live assets that surround the UK.Approximately 80% of the value of offshore wind claims have come from cabling losses. Of these costs, about 65% are attributed to vessel hire, which can amount to between £100,000 and £200,000 per day. Nearly 40,000km of offshore wind farm export cables are forecast to be laid worldwide by 2030, compared with just over 7,500km at the end of 2020\.**Challenge**An escalating cost of damages in the offshore wind subsea cable sector has led to a hardening insurance market, increasing premiums, and creating more stringent terms. This sellers' market leads in turn to a reduction in 'bankability' which reduces 'investability' since the equity internal rate of return (IRR) is less leveraged by debt.**Solution**Collective self-insurance will enable electrical fault-finding technologies to enhance preventative maintenance of export cables in offshore wind. The current reliance on the need to prove 'physical damage' for the insurance policy to respond means that repair campaigns are often delivered at great expense (i.e. during winter). The ability to intervene at the discretion of a mutual will reduce the cost burden of vessel hire.Collective procurement will allow asset managers to stock cost saving equipment such as universal joints that are currently beyond their means. Information sharing between ordinarily competing organisations will enable the development of best practice. Only through collective self-insurance can these solutions be delivered. And to do so is in the public interest.

**Pool Re for Energy** 该项目开创了一种围绕关键国家基础设施的“可保险性”和“可银行性”的新金融架构。Pool Re成立于1993年，是恐怖主义损失的最后再保险公司，2016年在气候风险方面紧随其后。成功的气候减缓可以通过“能源再保险”来加速，其中集体自我保险最初由国家支持。最好的风险管理者是资产所有者。因此，与其试图教育保险公司，不如做保险公司自己。除了提高能源安全性，这也为消费者节省了资金。背景 ** 海上输电所有者被称为OFTO，是高压输电基础设施的特殊目的载体（SPV），包括到海岸的出口电缆，根据法规，这些电缆在风电场投入运营之前由风电场开发商“分拆”。这些通常是高度杠杆化的资产，其中项目融资对6家OFTO拥有的公司至关重要，这些公司负责英国周围的23个活资产。大约80%的海上风电索赔价值来自电缆损失。在这些成本中，约65%归因于船舶租金，每天可达10万至20万英镑。预计到2030年，全球将铺设近40，000公里的海上风电场出口电缆，而2020年底仅超过7，500公里。挑战 ** 海上风电海底电缆行业的损害成本不断上升，导致保险市场不断硬化，保费不断增加，条款更加严格。这种卖方市场反过来导致“银行可融资性”的降低，从而降低了“投资性”，因为股票内部收益率（IRR）的债务杠杆率较低。解决方案 ** 集体自保将使电气故障查找技术能够加强海上风电出口电缆的预防性维护。目前，保险单需要证明“物理损坏”才能做出反应，这意味着维修活动通常需要花费很大的费用（即在冬季）。根据双方的意愿进行干预的能力将减少船舶租赁的成本负担。集体采购将允许资产管理公司储备成本节约设备，例如目前超出其能力范围的万向节。通常相互竞争的组织之间的信息共享将有助于制定最佳做法。只有通过集体自我保险才能实现这些解决方案。这样做符合公众利益。