GCube insures largest solar PV park in Europe

Specialist renewable energy insurer GCube has been selected by Paris-based developer Neoen to provide cover for a 300 MW solar plant in France which once complete is will be Europe’s largest solar photovoltaic park.

The Cestas project (pictured) near Bordeaux comprises several individual sites and is due for completion in O Cestas PV park ctober next year.

GCube will insure technological assets worth €285m ($353m) and all project revenues involved in the park. During the 12-month construction phase, the firm will provide construction all risks, advanced loss of profit, natural catastrophe and terrorism cover.

GCube underwriter Jamie Fleming said: “The PV industry in Europe to date has predominantly consisted of small sites in a handful of core markets such as the UK, Germany, Spain and Italy.”

He said that the Cestas project “is a timely reminder of French ambition in the market and may well initiate a shift in the status quo going forward”.

“It’s certainly an indication that the economies of scale being achieved in the global industry can make utility-scale solar a viable part of the European energy mix.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...