GCube Insurance Services Inc., an insurer of renewable power production facilities, has placed a customized insurance policy for the Blythe solar photovoltaic plant.
The project, located about 200 miles east of Los Angeles, has become the first U.S. solar project to implement this policy, which provides comprehensive operational coverage, GCube says.
‘[W]hile solar power offers California electric consumers a plentiful and sustainable source of energy, it's important to recognize that the capture, conversion and distribution of this energy source is still hugely complex,’ states Mike Bernay, president of GCube Insurance Services. ‘It is imperative that protection against manufacturing defects, faulty equipment, accidental damage and lost revenue be put in place for every project.’
SOURCE: GCube Insurance Services Inc.