RSA, the leading global insurer, launched its ‘Rethinking Risk: Renewable Energy’ campaign at the European Wind Energy Association (EWEA) conference in Copenhagen.
The global ‘Rethinking Risk’ campaign will see research and analysis published throughout the year covering a variety of risk areas, ranging from renewable energy to driving safety to shipping.
Looking at the future of insurance and renewable energy, RSA recognises that while renewable energy may be carbon free, it’s not risk free. From prototype stage technology to remote sites in inhospitable areas, a number of significant risks associated with renewable energy means the transition to a low carbon, sustainable energy future requires overcoming these significant barriers.
In a few years RSA expects to see wind turbines up to 250 metres high with 120 metre blades that will dwarf today’s towers. These type of developments will create new challenges, and insurers and manufacturers will need to work together to understand, manage and reduce the risks.
Mark Potter, Head of Renewable Energy at RSA , commented:
“Renewable energy continues to demonstrate its capabilities in meeting the demand for sustainable power across the globe, but there will always be significant challenges for the industry to overcome. But we at RSA believe that the prize of creating a sustainable future is worth fighting for. We work with the industry to manage these risks, making the path to sustainable energy a much smoother journey.”
As part of the launch, the insurer has created a series of films looking at renewable energy, with the first ‘Rethinking Risk: Insurance & Wind Energy’ launched today, along with a white paper ‘Rethinking Risk: The Future of Insurance and Renewable Energy’.
Involved in insuring around 40% of the world’s turbines, RSA has wide experience in the wind energy industry, insuring the first off shore wind farm in 1991 in Denmark, to this year insuring the construction of the largest wind farm in Latin America.
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Offshore WIND staff, April 18, 2012