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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.
Source: Bloomberg | Published on August 30, 2018
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 tax equity financing for the four solar farms. Terms weren’t disclosed.
“Swiss Re is guaranteeing the volume,” Richard Matsui, KWh’s chief executive officer, said in an interview. “That’s game changing.”
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