Energy Storage
The next logical step of FirstNRG as a renewable energy insurance broker was to enter the energy storage market. We can provide comprehensive insurance cover for the protection of developers and owners/asset management companies and their energy storage projects during development, construction and operational phase.
Large scale energy storage projects are now an essential part of the future of the energy market in the US. With the National Grid having a requirement to procure ‘back up’ storage to improve energy stability supply and subsequently meet their own active power output target.
The insurance market still does not understand well the energy storage and in its infancy, FirstNRG has worked with leading companies within the industry to define an insurance policy specifically for energy storage projects.
Our team in Europe works with the pioneers of the energy storage in Germany. We provide insurance protection for more than 60 MW capacity of Battery Energy Storage Systems worldwide. The projects are ranging from 1 MW up to 50MW including the following energy storage systems:
- Battery Energy Storage Systems (BESS) – Lithium-ion, Lead – titanate etc.
- Pumped Hydroelectricity Storage (PHS)
- Pumped Heat Electricity Storage
- Liquid Air Energy Storage
- Hydrogen
- Flywheel
- Supercapacitor
FirstNRG can offer a full range of covers from the start of feasibility studies, development stage, construction and operation phase.
Construction Phase
Marine/Transit/Transport insurance
Contractors/Erection All Risks
Delay in Start Up (Advance Loss of Profit)
Public Liability
Operational Phase
Operational All Risks (Incl. Damage, Breakdown, Loss of Revenue)
Cover for Imported Energy or Energy Stored
Extended Loss of Revenue Cover for Damage to Grid/Substations
Extended Loss of Revenue Indemnity Period (18 Months)
Public Liability
Environmental Liability
Terrorism
Cyber Attacks
Decommissioning Bonds
Defective Title/Chancel etc.
Why Choose Us
We are experts in the renewable energy insurance field.
We work with A.M. Best and S&P “A" rated insurance companies.
Response to inquiry within 24 hours.
Insurance solutions for your project worldwide.
We understand your business.
We go above and beyond to make sure our customers are happy with the services we offer.
*The picture is a reference of 'Upside Group'