Solar Projects in Oregon Getting Insurance to Guarantee Production
GCL New Energy Holdings Ltd | August 31, 2018
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 to tax equity financing for the four solar farms. Terms weren’t disclosed.