RenewableGuard Company Profile

Background

Overview

RenewableGuard is a specialized insurance and risk management brokerage established in 2012, dedicated to serving the unique needs of the renewable energy sector. The company offers comprehensive insurance solutions, including project-level coverage and income protection products, tailored for solar, wind, battery storage, and combined cycle energy projects. With a team of certified risk managers, RenewableGuard has insured over 12 gigawatts (GW) of renewable energy projects nationwide and anticipates more than doubling this figure by the end of 2027.

Mission and Vision

RenewableGuard is committed to advancing the adoption of clean energy by providing robust insurance solutions that ensure the stability and growth of renewable energy projects. The company's mission is to protect the future of renewable energy by mitigating risks and preventing catastrophic losses that could impact the short and long-term viability of these projects.

Industry Significance

As the renewable energy industry continues to expand, the need for specialized insurance services becomes increasingly critical. RenewableGuard plays a pivotal role in this ecosystem by offering tailored risk management solutions that address the unique challenges faced by renewable energy developers, thereby contributing to the industry's overall growth and sustainability.

Key Strategic Focus

Core Objectives

Comprehensive Coverage: Provide extensive insurance solutions that encompass all phases of the project lifecycle, from development to operation.

Risk Mitigation: Identify and address potential risks to ensure the financial stability and operational continuity of renewable energy projects.

Client Partnership: Establish long-term, strategic partnerships with clients to support their growth and success in the renewable energy sector.

Areas of Specialization

Solar Energy: Offer project-level insurance and income protection products for utility-scale, commercial & industrial, and residential solar projects.

Wind Energy: Provide resources and coverage for both onshore and offshore wind projects, including property and casualty needs.

Battery Energy Storage Systems (BESS): Specialize in insurance placements for battery storage projects, assisting with technology assessment and risk mitigation strategies.

Combined Cycle Energy: Advise clients on insurance coverage nuances specific to combined cycle energy technologies.

Key Technologies Utilized

RenewableGuard employs advanced risk assessment tools and collaborates with leading insurance carriers to develop customized coverage plans. The company also utilizes data analytics to monitor industry trends and inform its risk management strategies.

Primary Markets Targeted

The company primarily serves renewable energy developers, including those involved in solar, wind, battery storage, and combined cycle energy projects, across the United States.

Financials and Funding

Funding History

Specific details regarding RenewableGuard's funding history, total funds raised, and recent funding rounds are not publicly disclosed.

Notable Investors

Information about individual investors or investment firms backing RenewableGuard is not publicly available.

Utilization of Capital

While specific utilization details are not disclosed, it is likely that the capital has been directed towards expanding the company's service offerings, enhancing technological capabilities, and supporting the growth of its client base in the renewable energy sector.

Pipeline Development

Key Pipeline Candidates

RenewableGuard's pipeline includes a diverse range of renewable energy projects across various stages of development, with a focus on solar, wind, battery storage, and combined cycle energy projects.

Stages of Development

The company engages with projects at all stages, from early development through to operational phases, providing tailored insurance solutions to meet the evolving needs of each project.

Target Conditions

RenewableGuard targets projects that require specialized insurance coverage to address the unique risks associated with renewable energy technologies and operations.

Anticipated Milestones

The company aims to more than double its insured capacity from 12 GW to over 24 GW by the end of 2027, reflecting its commitment to supporting the growth of the renewable energy sector.

Technological Platform and Innovation

Proprietary Technologies

RenewableGuard collaborates with leading insurance carriers to develop customized coverage plans, leveraging their expertise and resources to offer innovative solutions to clients.

Significant Scientific Methods

The company employs data analytics and risk assessment tools to monitor industry trends and inform its risk management strategies, ensuring that clients receive up-to-date and effective coverage solutions.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, RenewableGuard's use of data analytics suggests an integration of advanced technologies to enhance its risk assessment and management processes.

Leadership Team

Jim Bowen – Senior Advisor, New Product Development

James Bowen is a pioneer in the climate finance industry, with a track record of developing innovative financial products to solve key barriers to scaling energy transition technologies. He is also active as a corporate board member and advisor for several energy and finance companies, including Energetic Capital, GoodLynx, and Loot. James was the founding CEO of Energetic Capital (formerly Energetic Insurance), an insurtech company focused on developing innovative risk management solutions for the renewable energy industry. Prior to Energetic, James was the co-founder and Partner of Vertex Energía, a project developer and financier of 200 MW of renewable energy projects in Latin America.

Andy Glickfeld – Senior Insurance Finance Director, CISR

Andy is a former Lender Insurance Consultant for STANCE. During his time at STANCE, Andy successfully closed more than 100 renewable energy project finance deals. He has worked with both debt lenders and tax equity investors and now serves as RenewableGuard’s lead on client closings. His relationships with existing lender consultants and understanding of commercially viable lender insurance requirements helps clients navigate difficult negotiations with lenders during hard market insurance conditions. Andy will be a critical resource in relaying new insurance terms to their lenders and will also be responsible for contract and policy reviews.

Drew Kindelt – Risk Manager / Head of Claims

Drew specializes in new business placements for the agency and has been in renewables for 5 years as a broker. At RenewableGuard, Drew has implemented several innovative carrier programs for clients and prospects that have resulted in 15–30% annual premium savings while maintaining the same if not better coverage. He is also leading the claims department as Head of Claims to advocate for clients getting paid out on losses that are covered while simultaneously educating them on best practices prior to losses occurring. Drew is currently in the process of obtaining his Certified Insurance Counselor (CIC) designation.

Ross Kiddie – Senior BESS Risk Manager / Electrical Engineer

Ross has over 25 years of experience in the renewable energy and power space and is a recognized industry leader and specialist for Battery Energy Storage Systems (BESS) risk and insurance. He previously led the international BESS practice with a UK Managing General Agent and brings his qualifications as a technical advisor, risk manager, underwriter consultant, and broker to the RenewableGuard team. He has had articles published in technical magazines on topics covering natural catastrophe impacts for insurance, software tools for modeling risk, and has been a featured speaker and panelist at the Energy Storage Summit and other international conferences.

Market Insights and Competitor Landscape

The renewable energy insurance market is characterized by a growing demand for specialized risk management solutions as the sector expands. Companies like RenewableGuard are well-positioned to capitalize on this trend by offering tailored insurance products that address the unique challenges of renewable energy projects.

While specific competitors are not detailed, RenewableGuard operates in a competitive landscape with other insurance brokers and risk management firms serving the renewable energy sector. The company's focus on specialized, project-level insurance solutions and its commitment to long-term client partnerships differentiate it in the market.

RenewableGuard collaborates with leading insurance carriers to develop customized coverage plans, leveraging their expertise and resources to offer innovative solutions. The company works closely with project developers, lenders, and other stakeholders to ensure comprehensive risk management throughout the project lifecycle.

RenewableGuard's strategic focus on the renewable energy sector, combined with its specialized expertise and commitment to client partnership, positions it as a key player. The company's ability to offer tailored insurance solutions and its proactive approach to risk management provide a competitive advantage in serving the unique needs of renewable energy projects.

The company aims to expand its insured capacity to over 24 GW by the end of 2027, reflecting its commitment to supporting the growth of the renewable energy sector. It continues to explore opportunities to enhance its service offerings, integrate advanced technologies into its risk management processes, and strengthen its partnerships within the industry to achieve its strategic objectives.