10 Hrs
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المصري اليوم
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Insurance Federation tracks renewable energy risks
The report by the Egyptian Insurance Companies Union reviews the risks associated with renewable energy projects, especially wind and solar energy. It highlights that the expansion of these projects increases the level and complexity of risks due to technological advancements and increased production capacities—for example, offshore wind projects relying on larger, more complex turbines. Solar energy projects face risks during transportation, installation, and operational phases, as well as risks from natural disasters and manufacturing defects. The report also points out that battery energy storage systems introduce new risks, including thermal runaway and cybersecurity failures. The union emphasized that insurance solutions are essential to protect companies and projects throughout all stages of their lifecycle—from design to operation. It underscores the need to develop flexible and specialized insurance products and to build highly capable technical teams to improve the assessment and precise pricing of risks. This approach aims to enhance the sustainability and stability of renewable energy investments and to increase investor confidence.
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