RENEWABLE ENERGY: IMPACT OF COVID-19 ON PROJECT SPECIFIC INSURANCE

| March 16, 2020

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We are certain that everyone involved in renewable energy projects are thinking about the impact Covid-19 will have on your projects being planned, built or operated. The following blog is not to be used as a full guideline, but rather an overview of our perspective on the situation. With the global Covid-19 escalation, it is likely that both the developers and the OEM’s are thinking “what impact will Covid-19 have on the completion of my project” and “can I still meet my PPA deadline?’ The first question to consider is whether a delay caused by a Force Majeure event insurable? The short answer is that no, a delay in this scenario would not be covered. Insurance is about Physical Damage to the subject matter insured, which is the Works. An outbreak of Covid-19 is not a Physical Damage event.

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ACCIONA

Leaders in infrastructure (construction, water treatment, etc.) and renewable energy (wind, solar photovoltaic, etc.) from sustainability and innovation. Our offer covers the whole value chain, from design and construction to operation and maintenance. With a presence in more than 30 countries, the Group develops its business activities based on the desire to contribute to economic and social development in the communities in which it operates.

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ACCIONA

Leaders in infrastructure (construction, water treatment, etc.) and renewable energy (wind, solar photovoltaic, etc.) from sustainability and innovation. Our offer covers the whole value chain, from design and construction to operation and maintenance. With a presence in more than 30 countries, the Group develops its business activities based on the desire to contribute to economic and social development in the communities in which it operates.

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