Renew Risk
Renew Risk builds catastrophe models purpose designed for renewable energy assets, which conventional models handle poorly because turbines now reaching 160 to 230 meters in deep…
Overview
Renew Risk builds catastrophe models purpose designed for renewable energy assets, which conventional models handle poorly because turbines now reaching 160 to 230 meters in deep offshore water did not exist when the historical loss record was created. Its models calculate the frequency and severity of financial losses from windstorm, hurricane, earthquake and severe convective storm, using large cloud simulations and machine learning alongside engineering science, and cover the United Kingdom and Ireland, Europe, Taiwan, Japan and the United States across offshore and onshore wind, solar, tidal and hydrogen. Buyers are insurers, reinsurers, brokers and banks who need to price risk, commit capacity and finance projects, alongside developers and asset managers. New models are produced in around nine months against industry timelines exceeding three years.
Details
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